Hedge Fund Gains From Cold Arctic Weather

Betting on Weather
Plenum Power Surge, a hedge fund based in Switzerland, is up 19% in just the first two month sof 2010 after betting on increasing power prices in Scandinavian countries.

The Plenum Power Surge fund manages almost $100 million in assets and has correctly predicted increasing prices after the coldest winter in Sweden in more than 20 years.

Henrik Wennberg, portfolio manager of the fund said, "...we were bullish on weather....and started buying then to take long positions."

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