Hedge Funds

High-performing energy fund closes to new investors


Reflecting the recent success and attraction of energy-related hedge funds, Toronto, Canada-based Front Street Energy and Power has temporarily closed to new investments after less than two years in operation.

The fund, managed by Front Street Capital portfolio managers Normand Lamarche and Frank Mersch, has produced an annual compound return of 52.1% since its inception in September 2003. It lost 1.71% in March, but is still up 18.84% for the three months of this year.

Front Street closed the fund for the time being after taking in $33 million in March, bringing its total assets to $235 million.