Friday, 29 May 2015
Last updated 16 hours ago
Dec 4 2012 | 1:13pm ET
Sweden's Shepherd Energy is quitting oil and emissions trading, which have cut into its returns this year.
The firm's energy hedge fund boasted gains of 8.6% on its electricity book. But that figure fell to 1.22% when losses on oil and emissions are factored in.
The firm plans to focus its attention on the Nordic power market.
"Our best performance comes from trading power," fund manager Arne Oesterlind told Bloomberg News. "Excessive price movements have prompted us to withdraw from trading oil, while narrow price ranges and too little volatility for emission permits have caused us to pull out."
"Nordic power is where our team's competence is, and we are more likely to achieve our return goals"—12% to 15% annually—"now that we focus on electricity, including Germany," Oesterlind explained.
May 27 2015 | 2:15pm ET
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