Adapto Energy launch 18th of January

1/5/2010 2:36:16 AM - Nordic News


Adapto starts a new energy commodity fund Adapto Energy, which will be launched on the 18th January 2010.

The terms and conditions for Adapto Energy are as follows:

- EUR denominated fund

- Minimum investment EUR 10 000

- Monthly subscription and redemptions (notifications in advance on 25th day in a month for subscriptions and 20th for redemptions)

- No frontload or redemption fees

- 1.5% Management fee and 20% Performance fee

- High Watermark applied

- Investor communications: Monthly newsletter, web access, and tailor-made investor communication upon request

- Luxembourg listing of Adapto SICAV, Fund: Adapto Energy

The energy fund will be managed by Fredrik Adolfson, who has over 10 years experience running large portfolios in the energy commodity industry. He has held leading roles at Nuon B.V, Vattenfall AB and Markedskraft ASA.

The fund has been run as a test portfolio since 10th of Sept with daily performance presented below. Statistics based on the daily data shows a standard deviation of 8,2%, and a sharp ratio of 2,7. The net return (after management fee and performance fee) is 4,1%, and an annualized net return of 16,8%. The performance comes from various long and short strategies.

- In the beginning we had a positive view on oil (Brent) and carbon, slightly bearish view on German power, and positive view on long-dated Nordic power. In the mid period we became neutral on oil and negative on UK gas, and last week we had a temporary play being short crude oil, writes Adapto Energy.

The fund is now open for subscriptions until 17th January 2010.

Adapto Energy is in the NHX index and you can follow Adapto Energy's performance on Hedgenordic.com