Red Kite metals fund gains after timely copper switch
Jan 15, 2014 | 02:10 PM
| Mark Burton
LONDON Red Kite Groups metals fund posted returns of slightly more than 50 percent in 2013 after switching to a long from a short position in the copper market around the time prices posted their lows for the year, sources told AMM sister publication Metal Bulletin.
The physical metals fund was up more than 50 percent in 2013, while two other Red Kite funds also returned double-digit percentage gains, a source familiar with the matter told Metal Bulletin.
Red Kite bucked the recent trend of weak returns among commodity funds largely because of well-timed trades in the copper market, which returned profits amid a drop in copper prices the first half of the year and a rally in the second half, other observers of the company said.....
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