Energy and commods hedge funds post big gains as prices skyrocket

Hedge funds that bet on a big comeback for commodities enjoyed soaring returns in the first nine months of 2021 as the world faced an energy crunch. The average global macro commodities hedge fund is up 23.2% for the first nine months of the year, according to data provider PivotalPath, a period that saw the average equity energy hedge fund rise 12.3%. Trend-following hedge funds enjoyed strong gains in September from natural gas, according to UBS.

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Taiwan’s Foxconn shows off three electric vehicle prototypes

Taiwan tech giant Foxconn unveiled its first three electric vehicle prototypes on Monday, underscoring ambitious plans to diversify away from its role of building consumer electronics for Apple Inc and other tech firms. The vehicles – an SUV, a sedan and a bus – were made by Foxtron, a joint venture between Foxconn and Taiwanese car maker Yulon Motor Co Ltd. Foxtron Vice Chairman Tso Chi-sen told reporters that electric vehicles would be worth a trillion Taiwan dollars to Foxconn in five years time – a figure equivalent to around $35 billion.

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