Duet Commodities Managers Quit

Jul 24 2012 | 1:13pm ET

Two of the top money managers at Duet Asset Management have resigned amidst a long losing streak.

Tony Hall and Arno Pilz have stepped down from the Duet Commodities Fund. The US$100 million fund has suffered losses in nine of the past 10 months, Bloomberg News reports, and is down 6.4% this year.

Still, Hall, who served as chief investment officer, and Pilz, its portfolio manager, have not lost nearly as much for as long as many prominent commodity hedge funds in recent years. Despite the losses in the last four months of last year, the fund finished 2011 up 26%.

Duet Commodities debuted just two years ago.

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