Martin Currie creates separate energy portfolio

Martin Currie is to carve out the energy investments of its Luxembourg-domiciled Global Resources fund to ­create a single mandate.

The Global Energy fund will be launched this week, and will be run by Duncan Goodwin and Ruairidh Stewart, who manage over $500m (£345m) in global resources assets.

The fund will consist of 30-50 companies that are involved in the refining and processing of oil, exploration and production, equipment and services, transportation and alternative energy.

The managers are not constrained by sector or country and there are no tracking error targets.

In a flyer sent to clients the managers say they expect oil and natural gas prices to recover in the second half of 2009, presenting a buying opportunity for investors.