The CC+ cocoa hedge fund, run by Armajaro Asset Management LLP’s famed trader Anthony Ward, lost money in 2016 for the first time since its inception a decade ago, according to people familiar with the matter. The loss shows how even one of the most storied traders in the industry was caught out by unexpected moves in cocoa futures, said the people, who asked not to be identified because the fund’s performance is private. Gains from coffee -- the second "c" in the CC+ name -- helped compensate for some of the wrong-way cocoa bets, they said. The loss was in...