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Hedge funds: Funds turn to commodities

Numbers of specialists up 63%, to over 300 since Sept ‘05.

Ben Jackson, Kiodex

"We are seeing more and more multi-strategy fund managers adding commodities to their portfolios"  Ben Jackson, Kiodex

According to SunGard Kiodex, a web-based commodities risk management platform for financial institutions, commodity hedge funds are rising in number. The most recent evidence comes from Citigroup, which is reportedly seeking to raise up to $2 billion for two new hedge funds that will be managed by the US bank’s energy trading subsidiary, Philbro. Leslie Barbagallo is a senior vice-president at Kiodex, where her responsibilities include assisting hedge funds and their investors with risk management due diligence. She says that, according to Kiodex’s listings, over the 20 months from September 2005 to May 2007, the number of hedge funds trading commodities (including multi-strategy) grew by 63% (39% annualized). There are now an estimated 300 hedge funds that specialize in trading commodities, and a growing number of multi-strategy funds that are adding expertise in commodities trading.

Ben Jackson, COO and head of Kiodex, says: "We are seeing more and more multi-strategy fund managers adding commodities to their portfolios.

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