Local hedge fund returns 294pc thanks to this 10-bagger
Paragon has ridden a long rally in commodity prices to nearly quadrupled investors’ money last year as the boutique firm’s big bets on gold, silver and copper stocks paid off with spectacular returns.
The commodity-focused long-short strategy surged 22.8 per cent after fees in December as a rally in commodity prices hit fever pitch, fuelling huge returns for some of its highest conviction positions. ASX-listed precious metal holdings from Turaco Gold and Black Bear Minerals to Investigator Silver rocketed more than 50 per cent in that month alone.