Schroders’ flagship agriculture portfolio has plunged $5bn (€3.9bn) in size over the past year as a result of fleeing investors and plunging commodities values.

The fund, which invests in agricultural commodities via swaps, futures and exchange-traded funds, closed to new investors in February last year with $6.4bn of assets. It is now $1.7bn in size, according to Schroders.