Tuesday, 31 March 2015
Last updated 8 min 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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…