Plenum Hedge Fund Soars As Nordic Temperatures Drop

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.”


In Depth

Dillon Eustace: The Advantages of ICAVs

Feb 11 2016 | 7:51pm ET

As the growth of alternative investment vehicles continues, global asset managers...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedging Against Reputational Risk in the 21st Century

Feb 12 2016 | 7:18pm ET

For investors, the first step in researching a new fund or manager is to google...