![]() ![]() Red Kite Metals - whose gains follow a number of tumbles in recent years when its bets soured - is the flagship of five funds run by London-based Red Kite Capital Management Ltd. “I know Red Kite has dug its heels into its shorts and that’s paying off handsomely for them,” said a source at a fund of funds in New York that receives performance numbers on Red Kite, among other funds. Now, after months of weak Chinese imports and as world economies teeter on the edge of another recession, Farmer and partner Lilley - evangelical Christians with more than half a century’s trading experience between them - are reaping the rewards of that contrarian position. While many other managers had bet on commodity markets extending last year’s post-crisis rally as emerging economies power ahead and global supply lags, Red Kite took the opposite view on copper, betting that a spike to $10,000 a tonne early this year had severely damaged demand in China. That would comfortably rank it among the best-performing commodity funds this year. The $1 billion Red Kite Metals fund has returned close to 20 percent for each of the past two months as copper prices fall to their lowest in a year, industry sources familiar with the fund’s positions told Reuters. Law, the information furnished to offerees.NEW YORK (Reuters) - It was a long wait, but the world’s most renowned metals traders Michael Farmer and David Lilley are finally profiting from a big, bearish bet on copper, trouncing rival hedge funds with a nearly 50 percent gain this year. Securities described and undertaking to furnish them, upon written request, in the accordance with applicable Notifying the SEC and/or each State in which this notice is filed of the offering of. ![]() Terms of Submission In submitting this notice, each issuer named above is: Please verify the information you have entered and review the Terms of Submission below before signing and clicking SUBMIT below to file this notice. If the amount is unknown, provide an estimate and check the box next to the amount. ![]() Provide the amount of the gross proceeds of the offering that has been or is proposed to be used for payments to any of the persons required to be named as executive officers, directors or promoters in response to Item 3 above. If the amount of an expenditure is not known, provide an estimate and check the box next to the amount. Provide separately the amounts of sales commissions and finders fees expenses, if any. Sales Commissions & Finder's Fees Expenses Regardless of whether securities in the offering have been or may be sold to persons who do not qualify as accredited investors, enter the total number of investors who already have invested in the offering:ġ5. Select if securities in the offering have been or may be sold to persons who do not qualify as accredited investors, and enter the number of such non-accredited investors who already have invested in the offering. Offering and Sales Amounts Total Offering Amount State(s) of Solicitation (select all that apply)Ĭheck "All States" or check individual Statesġ3. Minimum Investment Minimum investment accepted from any outside investor Business Combination Transaction Is this offering being made in connection with a business combination transaction, such as a merger, acquisition or exchange offer?ġ1. Security to be Acquired Upon Exercise of Option, Warrant or Other Right to Acquire Securityġ0. Option, Warrant or Other Right to Acquire Another Security Type(s) of Securities Offered (select all that apply) Duration of Offering Does the Issuer intend this offering to last more than one year?ĩ. Federal Exemption(s) and Exclusion(s) Claimed (select all that apply)Ĩ. Principal Place of Business and Contact Information Name of IssuerĬlarification of Response (if Necessary):Ħ. Jurisdiction of Incorporation/OrganizationĢ. UNITED STATES SECURITIES AND EXCHANGE COMMISSIONġ. ![]()
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