Capitalizing on a slowing global economy and declining oil and copper prices, Fortress Investment Group’s Fortress Commodities Offshore Fund Ltd. outperformed its larger peers in August with a 6 percent gain. As reported by Bloomberg.com, the $1.1 billion commodities hedge fund bested Clive Capital LLP ($4.8 billion) and BlueGold Capital Management ($2.3 billion) by aggressively selling its positions in oil and copper into rallies, while adding to its gold positions.
The one month gain by Fortress Commodities Offshore fund, which is run by William Callanan out of the Fortress Investment Group LLC, pushed the yearly gain into the black with a 1.8 percent return, while Clive Capital LLP and BlueGold Capital Management are down 11 percent and 25 percent, respectively. Callanan’s outlook for energy and metals remains dim for the near future while he continues to bet on rising gold prices. |
