Returns heat up


Rising oil and natural gas prices are goosing returns for long/short equity energy funds, some of which are among the year's best performers thus far. In July, Westcliff Capital Management's Energy Strategy fund surged 15.69%, bringing its year-to-date total to a walloping 34.01%. New York-based Dorset Energy Fund, managed by David Knott and Donald Textor, has also turned in one of the better performances in 2005. The fund, which focuses on North American energy plays, gained 5.94% in July, putting its year-to-date returns at 26.61%. July was also a big month for Blackrock's Small-Cap Energy Fund, which was