MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, July 2, 2004 New Fund is Bullish on Energy Guinness Atkinson is placing a bet that energy is the place to be. The Woodland Hills, California-based fund firm launched an energy fund on Wednesday. London-based fund manager Tim Guinness will leverage his knowledge of the energy markets for the new Guinness Atkinson Global Energy Fund. Guinness, chairman and chief investment officer of Guinness Atkinson, also manages the Investec GSF Global Energy Fund, an offshore fund. Edmund Harriss will co-manage the fund. In the beginning, managers will invest almost entirely in traditional, fossil-fuel based energy sources, said Jim Atkinson, president and chief executive officer of the firm. Over time, as alternative energy investments become more attractive, managers will invest accordingly. "The reign of ‘King Oil’ is ending, with known supplies potentially unable to keep pace with rapidly increasing energy demand, especially in Asia," stated Guinness. "We believe this creates a scenario of higher prices for petroleum-based and other traditional energy sources, which could lead to the profitable development of alternative sources of energy." Atkinson and Guinness first thought up the idea for the fund last year, and made the decision to launch it in the first quarter, said Atkinson. The firm will run an electronic ad on Friday and launch a print ad campaign in a few weeks to market the fund, said Atkinson. The firm hopes to draw from shareholders in existing Guinness Atkinson funds and new investors. New investors will have to shell out at least $5,000; existing investors must invest at least $2,500. "We'd like to get to $25 million as fast as possible," said Atkinson. Guinness Atkinson currently manages $170 million in assets in three funds. Printed from: MFWire.com/story.asp?s=7537 Copyright 2004, InvestmentWires, Inc. All Rights Reserved |