Bloomberg – Galena Asset Management Ltd.’s $700 million commodities fund rose 4.2 percent last month after correctly predicting gold and copper prices, beating BlueGold Capital Management LLP and Clive Capital LLP.
Galena’s returns in May were the highest in six months, according to a report to investors provided to Bloomberg. BlueGold, with $1.8 billion in assets, fell 12.5 percent, two investors said earlier this month. Clive Capital’s $3.9 billion hedge fund dropped 6 percent, with losses in oil, natural gas and platinum, a report to investors showed.
