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

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...