Assets under management by hedge fund manager Interkraft Capital Management ASA have risen above USD 100 million for the first time.

As of April 1, 2005, total assPARA_BREAK_SENTINEL_9f8e7d6c

Assets under management by hedge fund manager Interkraft Capital Management ASA have risen above USD 100 million for the first time.

As of April 1, 2005, total assets now stand at USD 110.4 million.

"We are targeting USD 150 million in this strategy short term," said Dag A Rosmo, managing partner at the Norwegian-based asset management firm. "Medium-term we're working to increase capacity."

Interkraft manages the Interkraft Energy Fund, which invests in financial power contracts on Nord Pool - the Nordic power exchange - and has an annualised return of 19.24 per cent with an annualised volatility of 15.92 per cent since inception on 31 August 2001.

In addition the company, which has a close cooperation with the power division of Elkem ASA, one of Norway's largest industrial companies, has a managed account program based on the same strategy.