This Metals And Mining Fund Is Up 31 Percent Year To Date

The Delbrook Resource Opportunities Master Fund returned -0.1% in August despite the benefits it received from multiple event-driven positions. On a year-to-date basis, Delbrook is up 30.9%.

Q2 2021 hedge fund letters, conferences and more

Mixed Results

In the fund's August commentary, management said they took advantage of tumbling iron oil prices on the back of reductions in Chinese steel capacity. Delbrook is a long/ short equity fund focused entirely on the metals and mining sector.

However, continuing declines in precious metal stocks offset those gains. Precious metals stocks remain below levels reached at the height of the 2008 financial crisis....