Commodity Funds getting hammered and most are down year to date. This is from the jsmineset.com web site from today.
jsmineset.com
Posted On: Wednesday, September 27, 2006, 3:54:00 PM EST
In The News Today
Author: Dan Norcini
Dear CIGAs,
Here’s a story from Reuters detailing the returns and holdings of some of the big funds playing the commodity game. It gives us a glimpse into the sheer size of the pool of money looking for a home to park itself in. The numbers are mind boggling. This is just the tip of the iceberg when you consider the plethora of hedge funds out there who are also playing the same game. Any questions as to why the commodity markets can make such wild price swings??
Dan
Mutual funds with big energy, commodities exposures
Sept 27 (Reuters) - Mutual funds have increased their exposure to energy and commodities over the past three years in an attempt to capture returns from soaring prices.
The following is a performance table for mutual funds with commodities and energy exposure.
------------ 2006 ------------ Full
Sept 1- 1-Jul Year to Year
MUTUAL FUND Sept 22 22-Sep Sept 22 2005
PIMCO CommodityRealRet Strat A -8.20 -6.43 -7.21 19.92
Oppenheimer Real Asset A -12.66 -16.61 -11.94 26.37
Credit Suisse Commodity
Return Strat A -7.53 -8.02 -4.87 19.94
iPath Dow Jones-AIG
Commodity Idx Tr ETN -6.84 -8.54
DWS Commodity Securities A -10.16 -13.46 -5.72
Merrill Lynch Real Investment A -12.51 -17.37 -13.24 22.13
iPath GSCI Total
Return Index ETN -11.80 -15.67
iPath Goldman Sachs
Crude Oil TR Idx ETN -13.52
iShares GSCI
Commodity-Indexed Trust -13.35
Direxion Commodity Bull 2X Inv -14.60 -16.87 -14.07
Average -11.12 -12.87 -9.51 22.09
Source: Morningstar. * Percent.
TOTAL
MUTUAL FUND NET ASSETS*
PIMCO CommodityRealRet Strat A 12,180,641,266
Oppenheimer Real Asset A 1,733,421,902
Credit Suisse Commodity Return Strat A 333,605,585
iPath Dow Jones-AIG Commodity Idx Tr ETN 295,037,673
DWS Commodity Securities A 256,840,918
Merrill Lynch Real Investment A 92,938,022
iPath GSCI Total Return Index ETN 64,302,175
iPath Goldman Sachs Crude Oil TR Idx ETN 36,703,231
iShares GSCI Commodity-Indexed Trust 35,234,707
Direxion Commodity Bull 2X Inv 1,537,981
Source: Morningstar. *In US dollars.
((Reporting by Barani Krishnan and Matthew Robinson; Reuters Messaging:
matthew.robinson.reuters.com@reuters.net; New York newsroom +1 646 223 6052))
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