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Opalesque Exclusive: French FoHFs manager still believes in the energy sector, will double allocation to agriculture The fund of hedge funds (ARIA 3) called Multi Alternatif Explorer (EDRAM) was launched in 2004 and focuses on raw materials, energy, agriculture and utilities; it returned 15.66% in 2007, 14.74% in 2006 and managers around €580m ($849m). Mr. Eric Ouedraogo is the fund manager. The fund invests with a bottom-up approach in hedge funds directly selected by Edmond de Rothschild Multi Management. The portfolio is placed in 26 managers, 21 of which are alternative managers.

According to Boursorama, Mr. Ouedraogo is confident with regards to raw materials and energy but is more prudent on metals. He is not afraid of a possible macro-economic shock either. With regards to agriculture, he believes that as the emerging economies’ standard of living is improving, food prices should increase. This concept is expressed through 3 specialised funds, one of which being the Caymans-domiciled Merchant Commodities Fund. “The aim is to increase the allocation to agriculture from 10 to 20% this year,” he said. He also believes that even if the American economy suffers, the emerging countries’ drive will maintain a steady demand in energy – and this is why the energy sector takes up to 50% of the portfolio. Metals and cyclicals represent around 20% of allocations via 5 funds and the weight will remain as it is.

The LCF Rothschild Group has......................

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