3 May 2011
Galena Asset Management Ltd has reviled that it restructured the Galena Energy Fund (GEF) earlier this year in order to providing a more diversified investment approach.
Claude Lixi remains the lead portfolio manager of GEF. He has been joined by Mark Heath who has moved over from parent company Trafigura as a senior investment manager. Frederic Codet has left Galena to head Trafigura’s structured derivatives team.
Heath has over 10 years experience in commodity markets, having traded oil and its product derivatives, natural gas and UK power. He joined Trafigura in 2008 as a senior trader on the oil derivatives desk, where was responsible for managing the refinery margin exposure through OTC markets. He was also responsible for origination of many long term structures that the company looks at in the downstream sector.
Prior to joining Trafigura, Heath traded physical Jet fuel at Hetco, and started his career trading natural gas as Enron in the UK. He holds a Bachelor of Science degree from Kings College London.
GEF trades exchange-traded oil and energy futures, options and swaps. The fund does not trade physical energy products. It trades on the market intelligence sourced from the Trafigura Group, the world’s third largest independent oil trader which deals over 2.5 million barrels daily. GEF aims provide an active exposure to energy markets via a combination of relative value, directional and volatility specific trades.
Galena was set up in 2004 to leverage the unparalleled commodities knowledge within Trafigura to deliver absolute returns for hedge fund investors. The FSA-regulated firm has $1.5 billion of assets under management and has currently six different programmes, both hedge funds and long only.
Claude Lixi remains the lead portfolio manager of GEF. He has been joined by Mark Heath who has moved over from parent company Trafigura as a senior investment manager. Frederic Codet has left Galena to head Trafigura’s structured derivatives team.
“This restructuring enables the GEF to further diversify its returns and differentiate itself from other energy funds,” said Jeremy Weir, CEO of the Trafigura’s asset management business. Trafigura seeded GEF with $50 million in 2009 and another $50 million last year.
Heath has over 10 years experience in commodity markets, having traded oil and its product derivatives, natural gas and UK power. He joined Trafigura in 2008 as a senior trader on the oil derivatives desk, where was responsible for managing the refinery margin exposure through OTC markets. He was also responsible for origination of many long term structures that the company looks at in the downstream sector.
Prior to joining Trafigura, Heath traded physical Jet fuel at Hetco, and started his career trading natural gas as Enron in the UK. He holds a Bachelor of Science degree from Kings College London.
GEF trades exchange-traded oil and energy futures, options and swaps. The fund does not trade physical energy products. It trades on the market intelligence sourced from the Trafigura Group, the world’s third largest independent oil trader which deals over 2.5 million barrels daily. GEF aims provide an active exposure to energy markets via a combination of relative value, directional and volatility specific trades.
Galena was set up in 2004 to leverage the unparalleled commodities knowledge within Trafigura to deliver absolute returns for hedge fund investors. The FSA-regulated firm has $1.5 billion of assets under management and has currently six different programmes, both hedge funds and long only.
