Burned By Oil, Armajaro Commodities Slides 2.5% In August

Armajaro Commodities Fund, flagship strategy of Armajaro Asset Management, had a turbulent month once again. The fund was down 2.46% in August, knocking its year-to-date return down to -3.8%, according to a investor letter seen by ValueWalk. Last month was not a good one for commodity-focused hedge funds, as a number of them posted dull returns. Armajaro Commodities: Losses in oil and precious metals The unexpected turn in crude oil prices caused damage to Armajaro Commodities’ portfolio, and the fund was also down in its positions in precious metals and coffee. Some gains were made in base metals, including zinc…