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Benedicte Gravrand, Opalesque Geneva:

The MitonOptimal Core Commodities Hedge Fund returned 11.86% (gross) in its first seven months, from May to November, during a difficult period when commodity indices fell by roughly 10%.

The Bloomberg Commodity Index is down 15% YTD, and the Dow Jones Commodity Index TR is down 16.94 % YTD.

Andy Pfaff, fund manager at MitonOptimal, a South African commodities hedge fund company, was supposed to launch the USD commodities CTA in February, with an in-house seed of $2.5m and a third party commitment of $2.5m. However, the capital was delayed, and this affected the first few months’ returns due to minimum fixed costs. The fund returned 6.39% net of costs in total.

Pfaff is now offering 2015 investors a 0% management fee and 21% performance fee structure for any investment of $1m or more. Investors with $5m or more at the end of 2015 will retain that fee structure for as long as they remain invested.

The Fund is domiciled in Malta, with the firm’s Guernsey offices acting as investment advisor, and administered by IDS Funds Services.

Related article: 20.Jan.2014 Opalesque Exclusive: South African manager MitonOptimal set to launch USD commodity CTA next month......................

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