Pimco Commodity Fund Slumps 17% in March as Iran War Upends Oil

Pimco’s commodity hedge fund has plunged about 17% so far this month as the war in Iran rattled oil prices and global markets, according to a person familiar with the matter.

The losses extend declines of the Pimco Commodity Alpha Fund to about 26% so far this year, according to the person who asked not to be named discussing private matters. The fund, which managed about $3 billion before this month’s losses, had dropped about 9% last year, the person said.