(LONDON, 24 August 2006) — The London-based investment management team at Cumulus Weather Fund, on the PCE Investors Limited platform, is launching the Cumulus Energy Fund on October 1st.
The Cumulus Energy Fund will replicate the successful energy trading strategy of the existing multi-strategy Cumulus Weather Fund. It will be managed by the same team, which developed its expertisewithin the proprietary energy trading businesses within investment banks and utilities. The Fund will trade commodity futures, swaps and options and will not trade equities.
Peter Brewer, Fund Manager, said “Many investors are seeking to increase their allocations to Energy without just adding more exposure to equities, oil or US natural gas. The Cumulus Energy Fundaddresses this need by focusing on European downstream commodities, such as electricity and carbon emissions. The strategy has shown excellent performance, within the current fund, even in times ofextreme market volatility, such as the 75% collapse in carbon emissions prices, the associated crash in European power prices and the subsequent rebound. Our impressive energy trading track recordhas confirmed the value in our unique approach and several current and prospective investors have therefore asked us to accept direct investments in that single strategy. We are delighted to obligewith the launch of the Cumulus Energy Fund, which will continue to target high returns with low correlation to commodity market indices or other energy funds. We naturally remain wholly committed tothe multi-strategy Cumulus Weather Fund, which will continue to incorporate the same energy trades as the Cumulus Energy Fund.”
Dr Joaquin Narro, Portfolio Manager, said “Our proprietary fundamental models allow us to identify relative value and directional opportunities across all energy commodities. We currently seeexcellent opportunities across many markets, for example in several European electricity markets.’
The Cumulus Energy Fund’s capacity is initially limited to $75m.
Peter Brewer, Fund Manager, added “With high return and risk expectations, it is in everyone’s interest that the asset growth of the Fund be carefully controlled.”
For further information please contact:
Anthony Payne / Max Hilton
Peregrine Communications
Direct: +44 (0) 20 7978 6052
Mobile: +44 (0) 7930 643 983
Gen: +44 (0) 870 800 5276
[email protected]
Peter Brewer, Fund Manager
Cumulus Weather Fund
Direct: +44 (0) 20 7664 6425
[email protected]
Lorraine Lyons, Director, Marketing
PCE Investors Limited
Direct: +44 (0) 20 7664 6491
[email protected]
