Armajaro Flagship Up 0.6% In August

Sep 21 2010 | 10:54am ET

Commodity hedge fund Armajaro Asset Management’s flagship hedge fund remains down more than 7% this year after posting a small positive return last month.

The firm’s Commodities Fund—which invests primarily in metals, energy and grains, and which did not participate in the huge cocoa buy engineered by firm co-founder Anthony Ward in July—rose almost 0.6% in August, Reuters reports. The US$1 billion fund is down 7.3% on the year.

“Returns can be assigned to copper, gold and the grains complex, with losses suffered in crude oil,” the firm explained in a note to investors.

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