Sunday, 28 December 2014
Last updated 4 days 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.