Thursday, 21 August 2014
Last updated 9 hours ago
Jun 22 2010 | 12:03pm ET
A Seattle-area hedge fund has launched a small-cap financials fund.
Bortel Investments’ financials vehicle debuted on May 6 with $7 million. While that’s not very much money, Bortel founder Peter Bortel said he doesn’t expect it to get all that much bigger, with a target of $30 million.
“Unless you’re really putting the pedal to the gas, you can’t make 30 times,” he told HedgeFund.net.
Bortel said he expects the fund to profit from a rebound in the financial sector over the next five to seven years.
The Gig Harbor, Wash.-based fund currently charges only a 2% maintenance fee. That is set to fall to 1% after Bortel, who serves as portfolio manager, establishes a track record and imposes a 20% performance fee. There is a $250,000 minimum investment. JPMorgan Chase is its prime broker, and Conifer Securities is its administrator.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note