Ex-trader to launch oil-focused commodities hedge fund

London

AN energy trader with more than 20 years of experience in the industry is set to launch a new Geneva-based, oil-focused commodities hedge fund, entering the market as many money managers have been hit by a sharp drop in prices.

Stephen Smethurst, who managed oil trading for the US$600 million Black River Commodity Trading Fund, is set to launch the Zafiro Capital Commodities Trading Fund at the start of next month.