A New Tool for Investors Interested in Energy - United States Oil Fund, LP
One of the risks for this fund is that USOF and its general partner may have conflicts of interest, which may permit them to favor their own interests to your detriment.
Hey, honesty pays off.
Can't tell what all the pricing babble is, but I think the MER is around 0.5% with a .35% brokerage fee.
Looks like an interesting way to trade oil futures.
Getting a fund like this off the ground doesn't seem cheap - since June 2005 they've spent over $11M on salaries and wages - on an initial investment of $400M.
Our sole General Partner is Victoria Bay Asset Management, LLC (formerly Standard Asset Management, LLC), a single member limited liability company that was formed in the state of Delaware
One of the auditors is none other than Malcolm R Fobes III of Berkshire Hatha... I mean Forbes... I mean Berkshire Focus.
The CEO of VBAM looks to have started specifically to launch this fund on May 10, 2005.
Another interesting director.
Peter M. Robinson has been an Independent Director of the General Partner since September 30, 2005. Mr. Robinson has been employed with the Hoover Institution since 1993. Mr. Robinson graduated from Dartmouth College in 1979 and Oxford University in 1982. Mr. Robinson spent six years in the White House, serving from 1982 to 1983 as chief speechwriter to Vice President George Bush and from 1983 to 1988 as special assistant and speechwriter to President Ronald Reagan. After the White House, Mr. Robinson received an MBA from the Stanford University Graduate School of Business. Mr. Robinson then spent a year in New York City with Fox Television. He spent a second year in Washington, D.C., with the Securities and Exchange Commission, where he served as the director of the Office of Public Affairs, Policy Evaluation, and Research. Mr. Robinson has also written three books and has been published in the New York Times, Red Herring, and Forbes ASAP and he is the editor of Can Congress Be Fixed?: Five Essays on Congressional Reform (Hoover Institution Press, 1995). Mr. Robinson is 48 years old.
Interesting high-profile fund offering....