Conquest closes $76 million agriculture fund
By Robert Campbell
NEW YORK, Aug 8 (Reuters) - Conquest Capital Group is shutting down its $76 million Conquest KCM Agricultural Commodities Plus Fund after its sole investor decided to take its agriculture trading position in house, a source familiar with the fund said Friday.
The KCM fund mainly invested in long positions in soft agricultural commodities and had a limited exposure to precious metals, according to the source. It had no exposure to energy markets.
Vague rumors of hedge funds in difficulty have circulated in energy and commodity markets amid sharp price declines in energy, precious metals and agricultural commodities in recent weeks.
The Reuters-Jeffries Commodity Research Bureau index .CRB has fallen by more than 15 percent since peaking on July 3.
Excluding the KCM Agriculture fund, New York-based Conquest manages $530 million in five hedge funds, according to its Website.
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