Press Release Source: James B. Rogers
Statement by James B. Rogers, Jr. Regarding Rogers International Raw
Materials Fund, L.P
Thursday October 28, 1:15 pm ET
NEW YORK, Oct. 28 /PRNewswire/ -- James B. Rogers, Jr., announced today he has
determined that mistakes in the calculation of his Rogers International
Commodity Index ("RICI") (see below) have been made but have not been publicly
disclosed by the Rogers International Raw Materials Fund, L.P. (the "Fund"). He
also announced today that he has notified the Fund of his redemption of all of
his economic participation in the Fund and of the transfer of his equity
ownership in the General Partner of the Fund to a family member. By reason of
such transfer, the Fund may have lost its rights to the use of various
trademarks involving the name "Rogers," including the name of the Fund.
Mr. Jim Rogers:
1942: Born in the U.S., lives in New York
1970: Co-founded "Quantum Fund," a hedge fund. This portfolio
rose over 4200% in the 1970s.
1980: Left the fund.
1990: Started the World Tour, his long-cherished dream. By the
year 1992, he traveled more than 160,000km covering six
continents on a motorcycle.
1999-2002: Started his World Tour again, visiting 116 countries and
traveling 245,000km. Both tours entitled him to inclusion
in Guinness World Records.
Books: Investment Biker: Around the World with Jim
Rogers Adventure Capitalist: The Ultimate Investor's Road
RICI (Rogers International Commodity Index):
The index, developed in 1998, represents the price of commodities closely
related to the worldwide economy. The components and weightings which structure
RICI are determined by a RICI committee directed by Mr. Jim Rogers. In
consideration for the demand and supply conditions and the liquidity of each
commodity market, RICI is a highly practical index because it incorporates the
aspects of feasibility of investment in each market. As of September 30, 2004,
it is composed of 35 commodity futures.
Mr. Jim Rogers' Role: The chairman of RICI committee, which decides RICI's
components and its weighting.
Source: James B. Rogers