The growing threat posed by a so-called "super El Niño” to global food supplies is spurring the creation of a new commodities fund.
Hedge fund Moreton Capital Partners is targeting $500 million for a special-purpose vehicle to trade multiple commodities that stand to be impacted by the weather phenomenon, including South African corn, Malaysian palm oil and Australian wheat. The markets are underestimating risks, according to Moreton’s co-founder Les Finemore.
