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21 Jun 2011

DnB NOR Global Energy Hedge Fund Launch

Stockholm based hedge fund manager, Carlson Fund, has launched a Global Energy fund. The fund invests in traditional energy companies globally, emerging markets included. Prime investment targets are oil and gas companies as well as in the service industry.

Lill Evanger Aafos and Aliya Orazalina will be managing the fund. They have 28 years of combined investment experience.

Ms. Aafos came to DnB NOR in 2008 to head up the global energy team. Previously, she was responsible for all energy investments at Norway’s state pension fund.

The new fund was launched on April 29. Carlson is part of the DnB NOR Asset Management group, which has a long history of managing energy stocks as part of client mandates and global portfolios.

The case for energy
To sustain global growth, the world has a need for energy that goes beyond the sources currently available.
Consumption in emerging markets has a long way to go to catch up with that of the West: The average Chinese citizen will have to quadruple his energy consumption to reach the consumption level of Americans. Indians must increase consumption more than tenfold.

Discovery of new oil does not keep up with increases in consumption, and new finds are in places where extraction is difficult. This leads to higher prices on oil and increased activity in the oil sector.

Recent set-backs for the nuclear energy sector will make the world more dependent on other sources of energy. Germany decided this week to decommission all nuclear reactors by 2022. Alternative energies are part of the mix, but traditional sources will still make up the lion’s share of energy supply over the foreseeable future.

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