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From Sagar Chakraverty, Opalesque Asia:
The Cumulus Energy Fund (Class A) was down 8.85% for December 2009 and up 68.58% in 2009, according to a communication from PCE Investors - a multi-strategy investment strategy with offices in London and New York – received by Opalesque. The $58m energy trading strategy had returned +179% in 4 years according to an Oct-09 presentation; it is a part of the family of Cumulus funds, run by London-based Cumulus, a specialist weather-related trading team founded in 2005, with currently $145m in total AUM.
The family of funds also includes the $83m Cumulus Fahrenheit fund, which trades solely in weather derivatives in front-month temperature futures on the Chicago Mercantile Exchange (CME), which lists monthly and seasonal temperature futures and options for 46 cities globally. This fund was up nearly 15% in Oct-09 since inception in July-08.
The Cumulus Energy fund, primarily Europe-centric, trades in German, Nordic and UK electricity and UK natural gas, as well as carbon emissions certificates, coal, crude oil and refined products.
The fund, managed by Peter Brewer, made a big impact on investors in the HFR European Performance Awards 2009, bagging the ‘Most Innovative Product’ category award. Bloomberg conducted a survey of European focused energy funds where this fund secured the first ranking in 2008 and 2009. ...................... To view our full article Click here
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