Fictional Former President’s Family Hedge Fund Goes The Way Of Actual Former President’s Family Hedge Fund

Selina Meyer’s private-sector job options just became slightly narrower.
Author:
Publish date:
Updated on
By Official White House Photo by Lawrence Jackson [Public domain], via Wikimedia Commons

By Official White House Photo by Lawrence Jackson [Public domain], via Wikimedia Commons

It’s a bad time for both commodity hedge funds and for hedge funds run by family members of former presidents. The former have been battered over the last couple of years, with lots and lots of them shutting down, including both commodity hedge funds run by people with the surname “Hall.” The somewhat smaller universe of ex-presidential-relation hedge funds is even smaller, and possibly non-existent, now that Bill Clinton’s son-in-law is out of the biz.

Louis Dreyfus Holding runs a commodity hedge fund, already a red flag. It is also a company in which Julia Louis-Dreyfus, great-great-granddaughter of founder Léopold Dreyfus and daughter of late Louis Dreyfus Energy Services chairman Gérard Louis-Dreyfus, probably owns a share or two. And she plays a former president on television. Long story short, Louis Dreyfus’ hedge fund, Edesia Asset Management, is doomed.

All funds and investments run by Edesia Asset Management BV will be wound down by Dec. 31 as the agricultural-commodities giant focuses on its main business, the company said in a statement Tuesday….

“In challenging market conditions, our flagship products have generated cumulative net returns of 42 percent and 70 percent, respectively since inception,” Edesia Chief Executive Officer Ian McIntosh said in the statement. “We anticipate the net asset values at closure of the funds to be at or close to the highest point in their history.”

But they’re closing it anyway, presumably because it was inevitable.

Louis Dreyfus’s $1.4 Billion Commodity Hedge Fund to Shut [Bloomberg]

Related