Performance

Strategy focus: Commodities prevail in bleak month

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Commodity funds reversed course in August, gaining 1.05%, to claim the mantle of best performing strategy for 2008. That gain comes after a nearly 1% loss in July. For the year, the Absolute Return Commodity Index has returned 13.34%, far exceeding the Composite, which is just above water at 0.65%.

As grain, livestock, precious metals and energy markets depreciated sharply, funds that shorted commodities and commodity-related stocks experienced healthy gains. These vehicles include Juno Mother Earth's Commodity Strategy Master Fund, which gained 6.91% for the month to total 14.90% for the year, and Briarwood's Diversified Trading Program, which rose