Q&A - Galena Asset Management - Ready to launch
Backed by commodity trading giant Trafigura, Galena Asset Management is launching an oil-focused energy derivatives fund to add to its existing metals and special situations funds. Roderick Bruce meets fund manager Claude Lixi to find out more
The hedge fund sector has suffered a double crisis in recent months. The credit crunch and resultant risk aversion from investors saw record cross-asset class fund outflows of $158.9 billion in 2008, with the majority of it in the final quarter, according to analysts. Coupled with that, the emergence of the $65 billion Madoff fraud in December 2008 further shook confidence in the sector.
Even against this challenging backdrop, hedge fund manger Galena Asset Management produced a 2008 return of
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