New York-based stock-picking hedge fund Soroban Capital Partners has made a least several hundred million dollars on bullish commodities bets following Russia’s invasion of neighbouring Ukraine, according to a report by The Wall Street Journal.
Other hedge funds to benefit from include New York macro fund Castle Hook Partners and value investor Pilgrim Global, who, also wagered that materials prices and shares of producers would rise following a year long drop in new commodity supply spending and efforts to reduce or limit carbon emissions.
The report says that Ccmmodities-focused funds that made similar wagers have seen returns of up to 30 per cent in the first two months of 2022, following years of poor performance.
