New fund launch

Macro Commodities Fund, a multi-strategy fund combining macro commodities, energy and emerging markets, launched in April with $30 million in seed money.

The Cayman Islands-domiciled fund had hoped to begin trading with $50 million but, according to portfolio manager Bruno Valicon, it has been extremely difficult to tap investors.

It invests in 10-15 liquid macro commodity strategies, each expressed by combining commodities futures and options and related emerging market debt, currencies and

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