In an odd but somewhat predictable twist, the people who brought you the sagging

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Kinetics Internet fund plan to launch an energy fund in December.

The no-load

Kinetics Energy

fund will invest in companies that gather, refine and/or sell energy resources, according to a registration statement filed with regulators on Monday. That includes alternative energy shops, which are among this year's hottest performers.

FuelCell Energy

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, which designs fuel cells for use in generating electrical power, is up more than 600% this year for instance.

With natural-resources funds up 20% on average so far this year, the firm is striking while the iron is hot. The firm has a habit of launching niche funds that are currently hot or are ripped from the headlines. The firm currently offers eight stock funds, including five Net funds and the

Middle East Growth fund. The White Plains, N.Y.-based shop also has an

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Asian Technology fund in the works.

The Energy fund will be run by Peter Doyle and Bruce Abel. The pair co-manage the

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Kinetics Medical fund, which launched last October and has ridden the biotech boom to a 58.2% year-to-date return. That beats some 60% of the fund's peers, but Doyle also co-managed the Internet fund, the firm's sagging flagship.

Over the past three years, the fund's 80.3% annualized return tops all but one fund,

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Berkshire Focus. But much of that record was built by Ryan Jacob, who left last June and has sputtered with his own

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Jacob Internet fund. Over the last year, the Internet fund is up 10.7%, trailing nearly every other tech fund and it has lost more than 34% since Jan. 1.

The Kinetics Energy fund's anticipated 2% expense ratio is higher than the average energy fund's 1.8% expenses, according to

Morningstar

.