Thursday, 5 March 2015
Last updated 37 min ago
Mar 22 2010 | 2:24pm ET
Frigid temperatures in Europe’s north have heated up Plenum Investment’s energy hedge funds.
Plenum Power Surge soared 19% in January and February. Energy prices in the Nordic region have soared to records, as Sweden suffered the coldest beginning to a year in more than 20 years, while energy consumption set records in Norway.
A second plenum fund, the Plenum Power Fund, returned 6% in the first two months of the year.
“To put it simply, we were bullish on the weather,” portfolio manager Henrik Wennberg told Bloomberg News. “We saw this already in the middle of December and started buying then to take long positions.”
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…