Unprecedented turmoil in the European energy markets has helped former Enron Corp trader Ulf Ek chalk up a 50 per cent return for his hedge fund so far this year, according to a report by The Star.
Nothlander Commodity Advisors’ $423 million strategy jumped by more than 11% in August alone as the fund benefitted from big swings in the prices of natural gas and power.
And the report cites an investor letter as revealing that Ek is optimistic the fund can continue its positive performance with the chief investment officer writing that he expects the fund’s “good fortunes over the last few years” to “continue for the coming years”.
Northlander’s so far in 2022 come on the back of a bumper gain of over 140% last year.
