Natural gas exchange-traded security launched

Victoria Bay Asset Management LLC of Alameda, Calif, announced today the launch of the United States Natural Gas Fund LP (UNG), an exchange-traded security based on natural gas. “UNG intends to invest primarily in those futures contracts that are in the two months closest to expiration because we feel those contracts will permit the fund to best achieve its investment objective,” said John Hyland, portfolio manager and director of portfolio research at Victoria Bay, in a statement. Last year, Victoria Bay launched the United States Oil Fund LP, an exchange-traded limited partnership that plans to use futures to invest in oil.