Trafigura Says It's Winding Down Flagship Commodity Hedge Fund
- Galena Metals Fund shut down due to to "difficult" markets
- Trafigura said it will retain other Galena managed funds
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Commodities trader Trafigura Pte Ltd. said it is closing its flagship Galena Metals Fund, the latest hedge fund victim of the rout in raw materials markets from oil to copper.
Commodities hedge funds are heading for their worst year since the 2008-09 global financial crisis, with some shutting down -- including the $450 million Armajaro Commodities Fund -- after losing money and clients.