LONDON, February 10, 2017 /PRNewswire/ --
The Montreux Natural Resources fund was the world's second-best performing hedge fund, according to international analyst firm Preqin Research.
The Cayman Islands-domiciled fund, managed by Montreux Capital Management Cayman, has returned 142% over the last 12 months, and was driven by the surging gold price and the performance of assets in which the fund invested.
The Montreux Natural Resources fund ranked second for net return during 2016 out of 14,500 hedge funds assessed, in the Preqin Global Hedge Fund Report, 2017.
The $32m fund, which generates returns through a range of commodity-related transactions, has during the last 16 months purchased mining interests in Tanzania, east Africa, and a refinery in Guinea, west Africa, at the bottom of the commodity super cycle as other participants were looking to exit.
Once the mines are in full production they are expected to produce large quantities of gold on a weekly basis and at between $450 and $600 per ounce, so providing the fund with a share of the mines' operating profits.
"The spectacular performance of the Montreux Natural Resources Fund over the last 12 months has coincided with the resurgence in the gold sector, and validates the investment management decisions we have made for the fund, making it one of the stand out performers in the commodity sector both last year and stretching into this year," said Oliver Harris, managing partner of Montreux Capital Management Cayman.
"The gold mines in Africa could produce over $40 million in cash per year.
"A listed miner recently bought a mine within five miles of the fund's Tanzania mines for a significant sum because of the amount of metal discovered within the ground.
"Moreover, the Guinea refining capacity owned by the fund should enhance investor return yet further."
Montreux Natural Resources was listed by the 2017 Preqin Global Hedge Fund Report as a "Top Performing Hedge Fund", and also a 2016 top-performing "Macro Strategies Fund", "Europe-Based Hedge Fund", "Activist Fund", "Discretionary Trading Fund", and "Hedge Funds, January 2014 - December 2016"
For more information contact Piers Sword, Montreux Capital Management Tel: +44(0)208-873-0217, or Adam James, Springup PR Agency , Tel: +44(0)203-6370091.
SOURCE Montreux Capital Management