New York
WHEN even Cargill Inc, the world's largest grain trader, decides to liquidate its own hedge fund, that's a sign that commodity speculators are in trouble.
Hedge funds focused on raw materials lost money on average in the first half, the Newedge Commodity Trading Index shows. Diminishing investor demand spurred Cargill's Black River Asset Management unit to shut its commodities fund last month. Others enduring redemptions include Armajaro Asset Management LLP, which closed one of its funds,...
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