Commodity funds bounced in the first quarter from a 2013 loss, with the top performers in the Lipper Global Commodity group racking up double-digit returns after rallies in agriculture, natural gas and nickel. Supply disruptions provided opportunities across the asset class, but fund managers said only a few of these bullish fundamentals would persist into the second quarter and that some commodities are now over-valued. The average actively managed fund in the Lipper Global Commodity sector gained 4 percent in the first quarter, compared with a loss of 9.98 percent in 2013. "It got off to a strong start this year. Commodities outperformed equities for the first time in a while…