Saturday, 28 March 2015
Last updated 1 day ago
Mar 22 2010 | 2:05pm ET
There are a lot of hedge funds hoping that a hugely-successful clean-energy investor is dead wrong.
The SAM Smart Energy Fund has been buying up stocks that others can’t wait to dump, Bloomberg News reports. In one case, fund manager Thiemo Lang has built an approximately 5% stake in New York-based Fuel Systems Solutions, even though more than half of the natural-gas car engine-maker’s shares have been lent to short-selling hedge funds and proprietary trading desks.
“These companies have been hit quite hard, but we’re sticking to our position and increasing it,” Lang told Bloomberg. “The strong correction we’ve seen at the beginning of the year is overdone.”
SAM Smart Energy has also boosted its investment in solar panel-maker Yingli Green Energy Holding. Both Fuel Systems and Yingli are down by double-digits this year, and SAM Smart Energy is suffering as a result: The €500 million fund, which soared 83% last year, is facing its worst quarter in more than a year.
Several hedge funds are going the other way on those stocks. New York-based Harvest Capital Strategies trimmed its stake in Fuel Systems by 11% in the fourth quarter. Peak6 Investment effectively exited the stock, dumping 97% of its shares.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…