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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