Some Commodity Funds Win While Others Falter

Commodity-focused funds haven’t fared well this year, but a small subset of computer-driven CTAs have outperformed significantly.


Cargill, the world’s largest grain trader, has significantly scaled down its management of commodity assets — which says a lot about the state of commodities-focused funds these days. Back in July its Black River Asset Management hedge fund and private equity unit announced plans to shutter four funds, including a commodities fund and two emerging-markets vehicles, and returned $1 billion to investors after the funds suffered losses on the back of a worldwide commodities crunch.

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