Despite the fact that analysts are forecasting declines, rising demand for oil has sent prices climbing, which has boosted energy hedge funds.
In its second month, the Ritchie Energy Fund, with $271 million in assets, posted an estimated gain of 3.6% for August and is now up 5.12%. The FrontPoint Utility and Energy Fund, while posting a 0.77% loss in August, is still up 2.67% throughout the year and 5.48% for the last 12 months.
Not faring as well was the Westcliff Energy Strategy, which posted a huge loss of 11% for August. The fund is still up