London-based Oakley Capital Management closed its commodities fund of hedge funds a period of bad performance.
Bloomberg Businessweek reported that Oakley shut the fund, who managed about $10 million in assets, in July. Fabio Cortes, the fund’s portfolio manager, left the firm at around the same time.
Separately, London-based hedge fund firm Clive Capital closed its doors at the end of last month following three consecutive years of losses. The firm called its directional, long volatility strategy "unsuitable," and admitted that it could not generate the returns it did in its earlier years.
Oakley manages approximately $1 billion of capital.