February 6, 2013 / 10:31 PM / 5 years ago

Astenbeck hedge fund up 4 pct in January after platinum rally

NEW YORK, Feb 6 (Reuters) - Prominent commodities trader Andy Hall’s $5 billion hedge fund, Astenbeck Capital Management, rose over 4 percent last month, its highest gain since November, after a surge in platinum group metals prices, the fund said in a monthly letter to investors.

Hall said he anticipated PGMs “have much further to travel” after last month’s rally. Platinum had its best month in a year in January, rising 9 percent.

“January has turned out to be a good month for most risky assets and our portfolio has benefited accordingly,” Hall wrote in the letter dated Feb. 1 and seen by Reuters on Wednesday.

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