Former JPM Commodities Trader Launches Hedge Fund

Oct 17 2011 | 12:11pm ET

Damien Bombell, who left JPMorgan Chase & Co when the bank closed its proprietary commodities trading desk in 2010, is striking out on his own.

Bombell has launched the Strand Global Macro Fund to  trade metals, grains and energy with his own capital and that of his partners. The fund will start trading with capital from outside clients early next year, and Bombell told Bloomberg he’d like to see $200 million under management.

“The reason why people should invest in strategies like mine is that we are not in an investing environment anymore,” he told Bloomberg. “For the next five to 10 years, we are likely to be in a very disjointed market place, where politicians lurch from one crisis to another. You need tactical traders and people who are mentally flexible.”

Bombell, CIO of Swiss-based Strand Asset Management, is targeting annual returns of 15% to 20%.

He said the Strand fund is buying Arabica coffee based on the belief that demand will outstrip supply, and is “quite bullish” on Brent crude oil, predicting a “nasty situation” which will see it rise to $150 a barrel from its current $86.


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

A Hard Look At Your ‘Soft’ Hedge Fund Marketing Information

Dec 8 2016 | 9:03pm ET

Conventional wisdom holds that due diligence examines quantitative as well as qualitative...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR