Hedge Funds Buy Gold

Gold and Silver Coins

New York, July 30, 2009 — Global Hedge Funds are buying physical gold. In fact, twenty out of 22 hedge fund managers interviewed by Moonraker Fund Management in the United States are buying gold to protect their personal wealth against excessive inflation.

Jeremy Charlesworth, Chief Investment Officer of Moonraker and manager of the Moonraker Commodities Fund and Global Opportunities Fund, met the managers on a recent fact-finding tour. He found that the vast majority of them were buying physical gold for fear that the quantitative easing program being seen in the Anglo Saxon economies would eventually result in a bout of steep price rises.

Charlesworth sees more upside in gold despite the gains seen every year since 2001 and is looking to increase long exposure to physical gold in both the Moonraker Commodities Fund and Moonraker Global Opportunities fund.

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