Attunga Capital’s Power & Enviro Opportunities Fund made a small loss of -0.24% in April, as uncertainty lingered over the Federal Government’s carbon trading scheme, and electricity demand declined.
The Fund’s 2009 return now stands at +10.51%. The ongoing uncertainty surrounding the Government’s Carbon Pollution Reduction Scheme and its inception timetable affected FY 2011 contracts, however the announcement after month end that the scheme was to be postponed by 12 months will create greater certainty in these markets. The manager noted also that the scheme was still at risk of being rejected in the Senate.
In power markets, generator outages and hydro generation bidding strategies held up prices, however overall the sector experienced a decline in demand which was expected by the manager.
The Attunga Agricultural Trading Fund also had a quiet month, gaining +0.69% to bring its 2009 return to +9.85%.
