Wednesday, 17 December 2014
Last updated 7 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.