December was another up and down month for commodities strategies in a very topsy-turvy year. On top of the pile was Cumulus Energy, with a huge monthly gain of 41.41%, taking its 2011 return to 99.64%.
Other 2011 winners included Duet Commodities, which made 26.44%, and Galena Metals –which returned made 11.31%.
Stable-mate Galena Special Situations lost 25.83% last year, while Armajaro STS Commodities was down 15.89% (with the flagship Armajaro Commodity Fund down 7.78%) and Krom River Commodity Systematic was off by 13.59%. Investec Global Commodities and Resources was down 11.90% for the year, while IPM Commodity