Tuesday, 22 July 2014
Last updated 1 hour ago
Aug 14 2008 | 9:35am ET
Phoenix, Ariz.-based Gressel Advisors is jumping into the cleantech fray with the launch of its Universal Carbon Fund.
However, pastures are not so green for the four-month old, $5.6 million hedge fund. The vehicle has dropped 30.55% through July.
The fund employs a long-biased, directional strategy based on the belief that demand for more stringent greenhouse gas emission regulations may lead to the creation of a mandatory “cap and trade” emissions regime in the U.S., according to fund documents.
It deploys a number of specific trading strategies and programs such as directional, relative value, cash/future spread/arbitrage, calendar spreads/arbitrage, option spread/arbitrage, volatility spreads/arbitrages, cash/delivery spreads and statistical arbitrage.
The fund is managed by Joseph Gressel, CEO of Gressel Advisors. Previously, Gressel was a member of the Chicago Mercantile Exchange as a floor broker and market maker. Gressel currently acts as a liquidity provider for the Chicago Climate Exchange, where he has traded since 2005.
The Universal Carbon Fund charges a 2% management fee and a 20% incentive fee and has a $250,000 minimum investment requirement.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…