Commodities

Clive Capital, the world's largest commodity hedge fund, lost $400m following a collapse in the oil price last week, the FT reports.

Schroders has renamed its gold and metals fund and changed the investment objective to allow it to invest in a different set of underlying commodities, including gold equities for the first time.

The price of gold soared yesterday to hit a new record before falling back following the death of the world's most wanted man, Osama Bin Laden.

Legal and General multi-manager Alan Thein has boosted his gold exposure in anticipation of a 30% re-rating in the commodity.

The final cost to BP from the Gulf of Mexico oil spill disaster could reach $60bn (£37bn), according to fresh analysis from ratings agency Moody's.

Newton's star income manager Tineke Frikkee has moved overweight BP, almost tripling her holding in the oil major in the £2.7bn Higher Income fund since February.

BP ONE YEAR ON

The oil price fell by as much as $3.25 a barrel on Tuesday after the world's biggest commodity trader called the top of the market for crude and a range of other commodities.

Tim Guinness, renowned energy investor and manager of the $416m Guinness Global Energy fund, has tipped oil to fall below $100 per barrel within the next six to 12 months.

Elissa Bayer of Charles Stanley gives her top tips for stock selection during a testing time for markets