Commodities Hedge Funds Down 0.8% In Q1

May 8 2013 | 8:48am ET

Commodities hedge funds are already on their back foot after two years of losses.

The average commodities fund lost 0.8% in the first quarter, according to the Newedge Commodity Trading Index. The same benchmark, which averaged double-digit returns before the financial crisis, lost 1.4% in 2011 and 3.7% last year.

"We are witnessing the implosion of a large chunk of the commodities hedge fund industry," the CEO of a commodities trading house told the Financial Times. "The sector is, on average, performing badly and investors are taking notice."

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