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 Afric