Wednesday, 1 April 2015
Last updated 3 hours ago
Mar 6 2014 | 11:46am ET
This winter has been a rough one for New Yorkers—but not for Jonathan Goldberg.
The former Goldman Sachs and Glencore Xstrata trader’s BBL Commodities is profiting handsomely from the cold that has gripped much of the U.S. this season. The firm’s $300 million Commodities Value Fund is up 7% this year, thanks to the winter-induced rally in U.S. oil and gas prices, Reuters reports.
The relative-value fund rose 7% in January before losing some ground last month. But its positions are back in the black this month.
“BBL made money on a variety of energy themes this winter,” a source familiar with the fund told Reuters. “Compared to the average energy fund, its diversified exposure to various, niche energy markets could help protect the downside and increase the upside.”
For New York-based BBL, the drop in temperatures couldn’t have come soon enough. The fund debuted in September and lost ground in each of 2013’s final four months, ending its first year down 6%.
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…