Credence commodities strategy delivers


Splendor Capital’s two rela-tive-value commodities-focused funds, Credence Oriental Trade Enterprises and Credence Global, have both delivered robust returns this year, gaining the most from positions held in soybean complex, zinc and wheat.

The Shenzhen-based master fund Credence Oriental, which is run by portfolio managers Tom Weiyi Tang and Ruhong Huang, gained 16.08% in the first 10 months of the year, including a marginal 0.16% gain in October. Meanwhile its feeder fund, Credence Global, delivered 17.57% year-to-date after a 0.22% uptick in the same month.

Credence Oriental, which was launched in January 2008 and has delivered an annualised return