Wednesday, 30 July 2014
Last updated 3 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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…