Friday, 22 May 2015
Last updated 5 hours ago
Feb 27 2007 | 3:07pm ET
Zurich, Switzerland-based financial services firm Plenum Group is set to launch the Plenum Specialized Commodity Fund on March 1. The fund of funds will invest in commodity funds that find opportunities in unconventional and traditional commodity and energy markets, and is expected to launch with some $6 million in equity.
Initially, the Plenum fund will invest in six underlying managers with exposure to niche areas such as cash and derivative freight markets, electricity trading, nuclear power and other, more traditional commodity and energy markets, according to Haakon Haland, portfolio manager. It will not invest in more than 10 underlying managers.
“We’re looking for manages who are not that mainstream,” said Haland. The underling managers’ track records range from just a few months to as much as 18 months, with assets in between $10 million to $100 million.
The new British Virgin Islands-domiciled fund of funds charges a 1.5% management fee and 20% performance fee, with a $100,000 minimum investment requirement.
The Specialized fund is the second fund of funds from Plenum. The group currently manages a Pan-Asian fund of funds, dubbed the Plenum Asian Dragon Fund, and a single-manager fund that trades in the Nordic electricity market, the Plenum Power Fund.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…