Oakley Cuts Commodities Fund Of Funds

Oct 30 2013 | 2:02pm ET

Poor performance by commodities hedge funds is not good news for funds of hedge funds focused on the space—one of which has joined the prominent names closing their doors this year.

Oakley Capital Management pulled the plug on its fund of commodities hedge funds in July, Bloomberg News reports. Portfolio Fabio Cortes left the London-based firm at about the same time.

The commodities fund was a very small part of Oakley's business, managing just US$10 million of Oakley's more than US$1 billion in assets.

Oakley's decision to shutter the commodities fund follows the closing of BlueGold Capital Management last year, and the closings of Clive Capital and Arbalet Capital last month.

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