Boston-based Loomis Sayles is expected to launch a leveraged version of its long/short energy sector hedge fund at the start of next year, according to an email from one of the firm’s third-party marketers, a copy of which was obtained by AIN. The leveraged share class will invest in the same securities as the original, but the size of the positions will be increased by 1.75, the email states. Calls to the firm were not returned by press time.
The fund’s investment universe is predominantly equities and “is broader than most energy hedge funds,” according to the email. This includes not only companies involved in the exploration, production, refining, marketing or distribution of energy and natural resources, but also transportation companies, equipment manufacturers, utilities and others. The fund launched in November 2005 and has returned 18.3% in the 14 months since inception.
Separately, the firm is reopening its long/short Consumer Discretionary Fund on Jan. 1. The strategy now has about $590 million under management and since January 2004 has returned nearly 40% through Nov. 30.