{"id":4841,"date":"2006-08-08T00:00:00","date_gmt":"2006-08-08T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-fund-motherrock-to-close","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/08\/2006\/hedge-fund-motherrock-to-close.html","title":{"rendered":"Hedge Fund MotherRock to Close"},"content":{"rendered":"<div class=\"writeboardbody\">  HedgeCo.Net (New York) &#8211; New York-based hedge fund MotherRock is shutting down after having lost $230 million in June and July because of volatility in natural-gas markets and investor redemptions.  At its peak in May MotherRock managed about $430 million in assets, and was formed in early 2005 by former New York Mercantile Exchange President J. Robert \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cBo\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d Collins.  <\/p>\n<p>    Collins wrote in a letter to investors in his MotherRock Energy Master Fund. \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cWe are in the process of developing a detailed plan for winding down the fund,\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d Collins said. He said the fund would    inform investors of the hit it has taken in the next two days.  <\/p>\n<p>    The demise of the hedge fund comes after a period of high volatility in the natural gas market, after a seasonally unusual draw in gas from storage last week and a rally fueled by a heat wave    across much of the United States.  <\/p>\n<p>    New York gas prices dropped 66 percent from an all-time high in December as a mild winter created supply and then rallied in the second half of July. While prices for summer fell, contracts for    next winter stayed unusually high, widening the price differential or spread.  <\/p>\n<p>    MotherRock had \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201csignificant losses\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d in July, though a final tally was not yet available, Collins said in the letter, obtained by Bloomberg News. The timing of the shutdown has not been    established, according to the letter.  <\/p>\n<p>    Alex Akesson<br \/>    Contributing Writer<br \/>    HedgeCo.Net<br \/>    Email: Editor@hedgeco.net  <\/p>\n<p>    HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge    Funds!  <\/p>\n<p>    <strong>Be sure to check out our sister sites. <a href=\"http:\/\/www.hedgefundlounge.com\/\">www.hedgefundlounge.com<\/a>, <a href=\"http:\/\/www.hedgefundtools.com\/\">www.hedgefundtools.com,<\/a><\/strong>    and <a href=\"http:\/\/www.hedgefundemployment.com\/\"><strong>www.hedgefundemployment.com.<\/strong><\/a>  <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>HedgeCo.Net (New York) &#8211; New York-based hedge fund MotherRock is shutting down after having lost $230 million in June and July because of volatility in natural-gas markets and investor redemptions. At its peak in May MotherRock managed about $430 million [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-4841","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/4841","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=4841"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/4841\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=4841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=4841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=4841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}