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Plenum Investments Hedge-Fund Adviser Wennberg Resigns

Feb. 25 (Bloomberg) -- Henrik Wennberg, who co-founded two Nordic electricity hedge funds at Plenum Investments Ltd., has resigned from the Zurich-based money manager, Plenum Chief Executive Officer Rainer Gruenig said.

Wennberg, 44, a senior fund adviser for the Plenum Power Surge fund and an electricity trader for more than 12 years, joined Plenum in 2005 from Markedskraft ASA, together with Torgeir Terjesen. They began trading for the Plenum Power Fund, which closed last March, and began the Power Surge fund in 2007. Wennberg stepped down for personal reasons and will leave Plenum at the end of next month, Gruenig said yesterday by e-mail.

The Plenum Power Surge fund gained 24 percent in 2010, according to data on Bloomberg, and is managed by Jukka Virtala and Mathias Wennberg, Henrik Wennberg’s brother.

“Their combined experience and successful track record as the managers of the fund since 2009 shall ensure that the fund will continue its outstanding performance,” Gruenig said.

Commodity hedge funds returned on average 10.65 percent in 2010, according to the Newedge Commodity Trading Index. Investors in the Standard & Poor’s GSCI Commodity Index received 9.02 percent.

To contact the reporter on this story: Lars Paulsson in London at lpaulsson@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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