Saturday, 28 March 2015
Last updated 15 hours 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.
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…