|Orkla Finans AS has decided to close its Energy Fund and Carbon Fund. According to Bloomberg, the firm’s Energy Fund, which invests in commodities, was down 12% YTD through April, while its Carbon fund was up 3.1% over the same period.|
Orkla Finans’ head of hedge fund products, Yngve Torvanger Joral, stated that the decision was not based on poor performance, but rather on strategy. These closures follow similar news from several other European hedge funds last month.
No official closing date has been set, but investors should be receiving their capital back sometime this month.