Energy fund Equinox Energy has announced its plans to close their fund after 4 and a half years of torment losing 85% of their partners money.
Stocks in the energy space are down, indexes in the US and Canada are marginally positive and this has been culminated by a huge decline in Q4.
In the middle of July 2019, energy companies fell 3-8% which meant breaking point for many funds.
Equinox Energy President Sean Fieler cited the key factors that contributed to the funds decline in his brutally honest assessment. These included;
Sean goes on to say that they believed over time, some if not all the trends would reverse and that they were confident energy prices would rebound to more sustainable levels. He openly mentions “regret” at starting the fund in 2015.
Sean’s brutally honest letter can be seen in full below;
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