New energy hedge funds flourishing despite broader financial downturn

摘要

Launches of new energy-oriented hedge funds continue to occur even though overall hedge fund launches have slowed as investors turn toward large, established funds, experts say.rnSome energy funds like Amaranth Advisors and MotherRock "have closed - those that were betting directionally wrong or spread trading," said Peter Fusaro, chairman of Global Change Associates. "Having said that, there are still more launches because energy is still attracting a lot of investment interest. There's a diversification play for energy."rnCurrently, there are 640 energy-oriented hedge funds, up from 180 funds three and a half years ago, Fusaro said.