The fund had nearly $4 billion in assets. The losses resulted from bad bets in copper and natural gas, causing the fund to lose 38% since the beginning of the year.
Wednesday, September 3, 2008
Lehman Commodity Fund Closing
Ospraie Fund, a big commodities fund partly owned by Lehman Brothers Holdings, is closing down and will return money to investors after incurring big losses this year.
The fund had nearly $4 billion in assets. The losses resulted from bad bets in copper and natural gas, causing the fund to lose 38% since the beginning of the year.
The fund had nearly $4 billion in assets. The losses resulted from bad bets in copper and natural gas, causing the fund to lose 38% since the beginning of the year.
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