Saturday, 28 November 2015
Last updated 13 hours ago
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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…