Wednesday, 20 August 2014
Last updated 11 hours ago
Nov 25 2008 | 3:12am ET
Robert Preston, a former portfolio manager at Merrill Lynch, recently launched a hedge fund focusing on companies working on clean technologies and energy delivery efficiencies.
Specifically, the Craigmillar Equity Fund concentrates on companies that are benefiting from the long-term energy de-carbonization trends. The firm believes that density consideration has been the driving force of energy evolution, affecting all sectors of the economy.
“Coal is easier to store than cords of wood,” it said. “Oil, by truck, was easier to move than coal by rail. Gas can be shipped to homes by pipe. A wire is smaller than a pipe.”
The fund, which launched in July, has suffered along with the rest of the industry this year, dropping some 20% since inception, according to public databases. It charges a 2% management fee and a 20% incentive fee and a $250,000 minimum investment requirement.
Prior to Merrill Lynch, Preston also held senior positions with other large financial firms including Paine Webber, L.F. Rothschild, Union Bank of California and Nomura.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note