Hedge Fund Snaps Seven Annual Gains in ‘Ugly Year’: Commodities - Businessweek

Hedge Fund Snaps Seven Annual Gains in ‘Ugly Year’: Commodities - Businessweek: "By Chanyaporn Chanjaroen
(For more commodity columns, click CMMKT.)

Feb. 9 (Bloomberg) -- Michael Coleman is suspending a three-decade trading career to focus on risk after a year in which the Merchant Commodity Fund he co-founded lost 30 percent and its assets contracted twice as much.

Assets fell to about $550 million last month, from $1.56 billion at the end of 2010, said Singapore-based Coleman, who gave up trading to become chief risk officer. The biggest losing bet was in sugar before a 10-month decline ended with winning wagers in oil, fuels, sugar and soybeans, he said. The assets of the hedge fund, started in June 2004 with $10 million, are now traded mostly by co-founder Doug King."

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