Betting on weaker oil price pays off for commodity funds in Q1

April 16, 2015 10:13 AM

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LONDON, April 16 (Reuters) - Commodity fund managers who outperformed their peers in the first quarter by shorting oil or underweighting the energy sector are expecting further weakness in energy in the second quarter but are waiting to see if oil prices bottom out.

Oil price volatility kept managers on their toes in the first quarter, with Brent crude falling and rising repeatedly before ending the quarter down almost 4 percent.

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