Armajaro Assets Drop 25%

Apr 17 2014 | 11:54am ET

Investors fled Armajaro Asset Management’s flagship commodities fund in the first quarter.

The London-based firm’s Armajaro Commodities Fund’s assets dropped to US$686 million at the end of March from US$904 million at the end of last year. Most of the decline was due to redemptions; the fund lost less than 3% on the quarter.

“The commodities hedge fund sector saw redemptions in many funds in 2013,” Armajaro told Reuters. “ACF has over a decade-long track record of very strong performance and we are optimistic about asset-raising for the fund in the coming months.”

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