Sunday, 23 April 2017
Last updated 1 day ago
Nov 29 2006 | 1:40pm ET
Corona Del Mar, Calif.-based Energy and Precious Metals Capital recently launched its unnamed precious metals and energy program with some $9 million in assets under management. In its first two months of trading the program is up 16.0% and is currently managing approximately $12 million in assets.
Founder William Stephens attributes the program’s solid performance to the oil and gold sectors. This month, Stephens says the program is down an estimated 4%. Going forward, he is generally bullish on the commodities sector.
“I think we’re going to see strong demand for commodities in general coming out of Asia with weaker supply out of the Middle East over time that drives energy prices higher, and we’ll continue to see precious metals reflect that as well,” he said.
The program charges fees of 2/20 with a $100,000 minimum investment requirement.
Prior to founding the firm, Stephens served as a securities analyst in the equity investment department of American National Insurance Company as well as Rauscher Pierce Refsnes and The Robinson Humphrey Investment Bank and Brokerage firm. More recently, he held vice president positions for George K. Baum & Co, an investment bank that focuses on municipal bonds and equity capital markets.