Energy hedge fund will use cash positions

Martin Currie's forthcoming energy hedge fund will not hold short positions, but instead will use cash positioning to protect investment gains.

It is at the request of the first investor into the Resources Absolute Return Fund that it is run as a long-only, cash vehicle.

The fund, which is to launch this month, can invest up to 100% in cash, although the managers anticipate it will have 60% exposure to equities at launch.

At the moment, co-managers Wendy Anderson and Chris Butler are running a d

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