A Singapore hedge fund that’s posted steady gains by financing commodity trades in everything from rice to cashews, is working with a global business group to help finance billions of dollars in transactions for small firms.

TradeFlow Capital Management has reached an agreement with the International Chamber of Commerce in France to start a new fund for small companies carrying out physical commodity trades, according to a statement.

TradeFlow, which has reached a preliminary agreement to be sold to [email protected] Capital, has posted returns of about 0.5% a month since it was formed in 2018, avoiding the turmoil that has buffeted commodity markets during the pandemic. The fund returned 5.9% last year and 6% in 2019.

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