WEST PALM BEACH, FL (HEDGECO.NET) – Veteran hedge fund manager, Jim Rogers is in the process of launching a new hedge fund vehicle according to Bloomberg news report. Rogers, along with George Soroswere the founders of Quantum hedge fund. Now liquidated, the Quantum hedge fund was at one point an incredible success story, being one of the pioneer funds applying global macro strategies intrading currencies and other derivatives.
Rogers new hedge fund will however, be devoted to commodity futures according to the released statements. The Diapason Rogers Commodity Index Fund is a joint venture with Switzerland based hedge fund manager, Equinoxe Partners.
The fund will be based on the Roger�s Commodity Index according to the news release. The index was launched in 1998, and has gained about 156%, tracking commodities such as grains, oil, oil seeds, precious metals, industrial metals and other commodity trading instruments.
Rogers who says he is bearish on the US dollar, favors commodities. According to him commodity prices would continue to increase because of the demand. He said, “The place to be is in natural resources, there will be a multi-year bull market in commodities.”
According to Rogers, the troubles of the US dollar stems from two factors; the massive US national debt and the growing US trade deficits. Rogers further said, �I am extremely bearish on the U.S. dollar, I expect there will be exchange controls in the United States in the next decade,� he added.
The Fimat Group has been appointed as prime broker for the new Rogers fund. The fee structure and minimum initial investment for the new vehicle were not immediately provided.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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