Despite lack of support for energy, this KKR-backed hedge fund sees a bull case

The BlackGold Opportunity Fund was down 1.6% in October, continuing the months-long downtrend as the energy sector continued to take a beating. The fund did outperform its benchmark, the Barclays HY Energy Index, which declined 2.3% in October for a year-to-date return of 0.3%. Year to date, the BlackGold Opportunity Fund is up 3.3% after positive returns in the first four months of the year.

No support for energy

In the fund’s October performance update, which was reviewed by ValueWalk