(Reuters) An oil hedge fund run by London-based AlphaGen Capital, a subsidiary of Henderson Global Investors, has made gains of almost 60 percent in the year to July 12, the firm confirmed to Reuters. AlphaGen’s 59.9 percent return in its Elnath fund contrasts with the average energy hedge fund gain of 10.3 percent in the year to June 30 as oil rose 30 percent from 12-year lows, according to data from industry tracker Hedge Fund Research.
“The oil price overshot the downside and what’s happened is we had no spare capacity globally,” Mark Gordon, AlphaGen’s Elnath fund manager, told Reuters. “We’re actually set up to have a surprise to the upside.
