Back in 2011, the University of Texas followed the advice of one of its wealthiest alumni, Kyle Bass. The University increased its holding of gold to $1 billion in gold bars in a New York vault back in April 2011, when gold was trading at $1,486 an ounce. Now the University has begun to convert that stake into gold futures. According to a report in Bloomberg, The University of Texas fund sold around $375 million of gold bars. However, the University reinvested the money in gold futures and in equities. The University of Texas fund made the trade in the…
University Of Texas Shifts Gold Exposure [UPDATED]
HFA Staff
The post above is drafted by the collaboration of the Hedge Fund Alpha Team.