Valartis To Liquidate Energy Hedge Fund

Jun 7 2010 | 2:00pm ET

Swiss bank Valartis is shutting its energy hedge fund, its administrator said.

Custom House Fund Services told Bloomberg News that the Valartis European Energy Fund’s April net asset valuation calculation “is to be the final valuation.” But the Chicago administrator added that “it is taking longer than the norm to finalize” and that no liquidation date has yet been chosen.

The Valartis fund debuted in October 2006 as part of OZ Holding, which became Valartis. The fund lost 1.4% last year and was down 0.1% in the first quarter of this year. It invests primarily in the German and Nordic electricity markets.

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