Bloomberg – Threadneedle Asset Management Ltd. is seeking to increase its commodity fund to as much as $1 billion in the next two years as the global economic recovery drives a rally in oil, sugar and metals.<\/p>\n
The London-based hedge fund, founded in 1994 and overseeing assets of $79.6 billion, is targeting a return of up to 15 percent this year from its Threadneedle Commodities Crescendo Fund, manager David Donora said in an interview. The $22 million fund returned 5 percent to July 27, he said. Commodity trading advisers, or managers who trade futures globally, returned 0.3 percent this year, data from Eurekahedge Pte Ltd. show.<\/p>\n
\u201cWe are in the process of expanding our commodity fund,\u201d said Donora, who has 25 years experience in raw materials and derivatives trading. \u201cWe are targeting between half a billion and a billion dollars for the fund in the next two years. We\u2019re seeing an increased amount of interest.\u201d<\/p>\n