Oceanic Hedge Fund - July 2008

The Oceanic Hedge Fund (OHF) invests in shipping, oil services and energy equities as well as the associated freight forward agreements and commodities. The fund uses the low correlations between these sectors and the broader markets to provide a balanced exposure. OHF takes long and short positions in equity instruments and derivatives. Although it may be either net long or net short at any one time it has a long bias over the cycle. The long/short equity strategy focuses on finding the fund