Citi Alum in Hedge-Fund Startup Sees Gold Rally on Fed, Brexit
- Odds of Fed hike have decreased tremendously, Szpakowski says
- Academia Capital starts trade in May, emphasis on commodities
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Gold will probably extend gains this half as Britain’s vote to quit the European Union adds to the case for the Federal Reserve pausing on interest rates, according to Ivan Szpakowski, who left Citigroup Inc. earlier this year to set up a hedge fund that started trading in May.
“It’s going to end the year even higher,” Szpakowski, chief investment officer at Academia Capital LLC, said in a phone interview. While the fund will have an emphasis on commodities including energy, metals and bulks, it’ll also trade currencies, rates and equities, he said, declining to give a figure for assets.