Absolute Return Partners Launches Power Fund

Oct 7 2009 | 6:11am ET

London-based investment firm Absolute Return Partners recently launched a new vehicle, the NEAS Power fund.  

The fund, which was launched Oct. 1, will trade futures, forwards and options on electricity, carbon emission certificates and the commodities which are the components of the power complex (coal, gas and oil) and will be applying a relative value approach.

According to the firm, more than 95% of the securities traded will be listed on either Nordpool or the EEX, the two main European power exchanges. The fund has been incorporated as an umbrella company registered under the laws of Malta.

Absolute Return has appointed NE Capital Management to be the sub-investment manager with responsibility for the day-to-day management of the portfolio. NE Capital Management is the capital management arm of Nordjysk Elhandel (NEAS), a Danish energy company with substantial commercial interests and trading experience.

The firm is utilizing Quintillion as its fund administrator.

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