Quantitative Investment Management, Jaffray Woodriff’s $5 billion commodity hedge fund firm, is closing its two largest funds to new investments, effective March 1. The firm will also liquidate four of its smaller funds, citing poor performance and a lack of investor interest. QIM will hard-close its $4.5 billion Quantitative Global Program and its $400 million Quantitative Tactical Program, wrote chief executive officer Jaffray Woodriff in a January 28 letter to investors. QIM wrote that while neither fund had hit capacity—the Global Program’s could handle as much as $10 billion and the Tactical Program could manage as much as to $1 billion—the firm decided it was the “prudent course of action to preemptively close both programs and only grow assets organically after March 1,” a decision QIM will re-evaluate at yearend. Only investors...