New York (HedgeCo.net) – Over the course of the last year, most commodities have seen significant declines in their prices. Oil is down over 50%, platinum is down over 30%, silver is down over 25% and gold is down over 15%. Corn is one of the few commodities that is actually higher over the past year with a gain of just over 9%.

The slide in commodity prices has caused some investors to lose interest in the sector and they are fleeing in droves. This has led to a number of commodities based hedge funds to close the doors.

The latest victim appears to be Armajaro Asset Management LLP and their commodities fund. According to reports, the firm will close the fund before the end of the month. The fund has approximately $450 million in AUM and it was dealt a tough blow when John Tilney stepped down as the lead manager back in April. According to a report from Reuters, the fund was down 9.8% from the beginning of the year through the end of May with a 5.2% drop in May alone.

Rick Pendergraft
Research Analyst
HedgeCoVest