Bloomberg – Global Advisors LP, the commodities hedge fund firm co-founded by former JPMorgan Chase & Co. energy trader Daniel Masters, is shutting two of its three funds after losses in allcommodity markets this year.
The $60 million Global Advisors Commodity Investment fund and the $4 million Global Commodity Index Plus fund will return money to investors at the end of the month, the London-based company said in an e-mailed statement today.
“It’s been frustrating,” co-founder Russell Newton said in a telephone interview. “Some investors don’t understand the changes in volatility in these markets. Commodity traders can have years of great returns and years of bad ones.”
