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Commodities Slide Hits Hedge Funds

Washington Post – John W. Henry & Co., the investment firm run by the Boston Red Sox baseball team’s owner, is among hedge funds that in July suffered their worst drops in almost 18 months as oil and other commodities retreated from record prices.

John W. Henry lost 17 percent on its JWH GlobalAnalytics fund, the firm said on its Web site. Altis Partners’ $1 billion global futures program fell 18 percent, paring its gain for the year to 10 percent. London-based Man Group’s AHL Diversified Futures, the computer program that trades about $25 billion of investments, dropped 5.5 percent through July 28, or a loss of about $1.37 billion in the month.

Oil, natural gas, nickel and corn prices all tumbled in July, making it the worst month for the Reuters/Jefferies CRB Commodity Index in 28 years. The drops pushed commodities trading advisers to their biggest declines since March 2007, according to data compiled by fund tracker Barclay Hedge.

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