OppenheimerFunds Liquidates Commodities Fund After Years of Loss
- Fund's assets have fallen to $267 million from $2.2 billion
- Commodities are rallying this year after five losing years
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OppenheimerFunds Inc. is liquidating its 19-year-old commodities fund following years of losses and the worst oil crash in a generation.
The firm will shut down its Commodity Strategy Total Return Fund on or about July 15, it said on its website, with the proceeds being used to redeem investors’ shares. The fund had $267 million in assets yesterday, according to data compiled by Bloomberg, down from $2.2 billion in 2008.