Clive Capital Seeks No More Suitors For $4 Billion Fund
December 09, 2009 1:46 PM
After posting an impressive 4% growth in November, Clive Capital LLP has stopped accepting new money into the $3.98 Billion hedge fund. November saw the fund making its biggest monthly gain since May. Clive Capital’s feat was due to its long exposure to Gold and other precious metals.
The fund is managed by Chris Lavette who started the fund in Dec 2007. A spokesperson for the fund said that resumption of new subscription to the fund would depend on the “focus and scrutiny of market liquidity and portfolio diversity”. Clive Fund has also outpaced other funds by posting a 22% growth rate YTD whereas the average hedge fund grew by 19% during the same period. According to New York-based hedgefund.net, the commodity funds expanded their corpus by 5.7 percent in November to $64.32 billion. Clive Capital further states that it expects Gold and other commodities’ prices to increase further, especially for SPDR S&P 500 (ETF) (NYSE: SPY) and SPDR Gold Trust (ETF)
(NYSE: GLD).
