Ospraie Hedge FundÂ is operated by Ospraie Management LLC, an investment firm by Dwight Anderson. Ospraie is in news these days because it is going to shut shop after it fell almost 39 percent this year because of losing bets on commodities.
Talk about different sectors taking hits in this grumbling economy.
Hedge funds are meant for super rich so usually they are not regulated by the government. And it makes sense since they involve big time heavy hitters and not people with their life savings in it.
One of the largest commodity hedge funds in the world, Ospriae Fund Ltd. had roughly $2.8 billion in assets at the start of August.
So how much is it down to now? About 38.59%. I have heard conflicting by some networks putting the number to 40%.
Quite a drop there and you can say that again.
Now since losses suffered by Ospraie Fund have exceeded 30%, investors don’t have to abide by its “lockup.”
I would be interested to hear what other hedge funds will come tumbling after this. Or is this a one off thing. I certainly don’t think so.