Reply #47: Commodities fund loses $400 mln in oil slide -report

[Demeter]

http://af.reuters.com/article/metalsNews/idAFN0813509820110508

Clive Capital, the world's largest commodity hedge fund, lost more than $400 million due to the collapse of the price of oil last week, according to the Financial Times on Sunday.

The London-based fund, which manages an estimated $5 billion of client money, is the largest of several hedge funds believed to be impacted by the unexpected sell-off, the newspaper said.

Clive said it was down 8.9 percent on the week after what it called "extraordinary" price movements on Thursday, according to a letter sent to investors on Friday and seen by the Financial Times.

Thursday's sell-off was started by retail and non-traditional investors taking profits, a move which triggered automatic selling from quantitative funds, according to the newspaper...