Archive for Hedge Funds
Bitcoin Exchange Wants to Be Digital Safe House for Hedge Funds
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Coinbase will store digital coins for institutional investors
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The firm estimates there’s $10 billion waiting on sidelines
Coinbase, one of the most popular digital-coin exchanges for retail investors, has its eye on institutional cash looking for a way into cryptocurrencies…
Bitcoin Exchange Wants to Be Digital Safe House for Hedge Funds
DoubleLine’s Gundlach Attacks Break for Hedge Funds in Tax Plan
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Gundlach ‘appalled’ by continuation of carried interest break
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Tax bill will help small fraction of population, he says
Jeffrey Gundlach, chief investment officer of DoubleLine Capital, said the congressional tax plan would expand the federal deficit and help a small fraction of the U.S. population, including hedge fund managers.
“I’m very disappointed incidentally about the shape of this tax cut that is being proposed,” Gundlach told a gathering of industry participants at the Drake Hotel in Chicago on Wednesday. “I am just appalled that we are going to continue to have a carried-interest scheme for hedge funds.”…
Kohl’s Is the Department Store of Choice for Hedge-Fund Managers
Posted by: | CommentsEddie Lampert is famous for being an influential hedge-fund manager and the chief executive officer of Sears Holdings Corp., a company where he’s also the top investor.
But his fellow hedge-fund honchos are backing a different department store: Kohl’s Corp…
Kohl’s Is the Department Store of Choice for Hedge-Fund Managers
A High-Stakes Hedge Fund Battle Erupts Over Hovnanian Debt
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Blackstone GSO proposal is said to have credit-event trigger
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Unusual jump in home-builder’s CDS indicates default risk
The credit derivatives market is treating New Jersey’s largest homebuilder as if it’s about to default, even as its stocks and bonds show no signs of panic…
A High-Stakes Hedge Fund Battle Erupts Over Hovnanian Debt
The Hedge Fund Love Affair With Tech Is Souring
Posted by: | CommentsLive by technology shares, die by technology shares. Unless you can guard against declines.
Hedge funds are increasing short bets on tech stocks, especially in the U.S., where combined positioning shows managers the least reliant on American technology firms in nine months, according to data from Credit Suisse Group AG’s prime services. The worldwide view also reveals newly added bearish wagers while long positions have remained steady…
The Hedge Fund Love Affair With Tech Is Souring
Hedge Funds Add Bullish Oil Bets With Mideast Tension Heating Up
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Money managers boost Brent-crude long positions to a record
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Short-sellers take positions to lowest in over eight months
The Middle East is kicking things up a notch in the oil market…
Hedge Funds Add Bullish Oil Bets With Mideast Tension Heating Up
Hedge Funds Pile on Bullish Oil Bets as Mideast Tension Heats Up
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Money managers boost Brent crude long positions to record
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Short-sellers take positions to lowest in over eight months
The Middle East is kicking things up a notch in the oil market…
Hedge Funds Pile on Bullish Oil Bets as Mideast Tension Heats Up
Ex-Morgan Stanley Executive’s Hedge Fund Jumps 49% on China Bets
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All-Stars bought New Oriental, Alibaba, Baidu shares on dips
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Private investments in Tujia, Didi, Xiaomi also paying off
A former Morgan Stanley executive’s hedge fund has soared 49 percent this year by sticking with well-timed bets on technology stocks and investing in some of China’s hottest private companies…
Ex-Morgan Stanley Executive’s Hedge Fund Jumps 49% on China Bets
Hedge Funds Post Best Month of the Year With 2% October Return
Posted by: | CommentsHedge funds produced their strongest performance of the year in October…
Hedge Funds Post Best Month of the Year With 2% October Return
Ray Dalio’s Pure Alpha Hedge Fund Rebounds in October
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Alpha gains 3% for month after losing ground earlier this year
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Fund’s returns flip into positive territory year-to-date
Bridgewater Associates, the world’s biggest hedge fund firm, recouped this year’s losses in one of its funds during October…
Ray Dalio’s Pure Alpha Hedge Fund Rebounds in October
Robert Mercer, Bannon Patron, Is Leaving Helm of $50 Billion Hedge Fund
Posted by: | CommentsRobert Mercer, a billionaire investor and top financial backer of conservative causes, is stepping down as co-chief executive of Renaissance Technologies, as the giant hedge fund faces a backlash from some clients who resent Mr. Mercer’s embrace of polarizing political figures.
Discomfort with Mr. Mercer’s political activism — including protests aimed at university endowments, foundations and pension funds with money invested in Renaissance — has showed signs of taking a small but growing toll. The retirement fund for Baltimore’s police and firefighters, for example, last week asked that all of the $33 million it had invested in Renaissance be refunded, said David A. Randall, the retirement fund’s deputy executive director…
Pimco Quants Say Beware of Bond Hedges for High-Flying Stocks
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Using multi-pronged strategy boosts volatility-adjusted return
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‘Lot of hedges have disappointed,’ says Pimco’s Jamil Baz
The old recipe of using bonds to hedge against risks from equity holdings may not be a winner anymore, and investors would be better off with a more complex approach that relies on multiple tactics, according to Pacific Investment Management Co. analysis.
Mercer Hedge Fund Tax Dispute Moves to IRS Appeals Office
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Review involving Renaissance Technologies said to begin Nov. 7
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Senate estimated investors avoided $6.8 billion in taxes
A tax dispute involving Renaissance Technologies, the hedge fund firm whose co-chief executive officer is a prominent backer of President Donald Trump, is advancing to a new phase.
Members of the Internal Revenue Service’s Office of Appeals are scheduled to meet with lawyers for Renaissance in New York on Nov. 7, according to a person with knowledge of the matter. The meeting kicks off a review by an independent branch of the tax agency and suggests a resolution may be years away…
‘Psychopath’ Hedge Fund Managers Make Less Money
Posted by: | CommentsHow One Hedge Fund Ignored the China Bears and Made a 65% Gain
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Fund made money buying AAC shares after short-seller attack
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It also owns share in Chinese developers Evergrande, Sunac
Betting against the short-sellers helped Gloria Lu’s fledgling hedge fund establish itself among Asia’s biggest stars of 2017…
How One Hedge Fund Ignored the China Bears and Made a 65% Gain
Soros-Backed Hedge Fund Beats Peers With 23% Return
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Glen Point bets on emerging-market debt, currencies paid off
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Macro fund’s gain for this year compares with a loss in 2016
Glen Point Capital, a $2.3 billion hedge fund that invests money for billionaire George Soros and other clients, surged 22.7 percent through September this year, according to a person with knowledge of the matter…
Soros-Backed Hedge Fund Beats Peers With 23% Return
Cracking the Code of a $1.8 Billion Hedge Fund’s Mystery Short
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Hedge fund offers details, but not a name for new short bet
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Extra Space Storage has same business segments as mystery REIT
Newbrook Capital Advisors, the $1.8 billion hedge fund run by Robert Boucai, has a new short bet, and this time it’s targeting a company in the real-estate sector…
Cracking the Code of a $1.8 Billion Hedge Fund’s Mystery Short
Hedge Funds Can’t Resist This Volatility Trade That’s Been Losing Money
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Global Sigma, BTG Pactual among firms adding volatility funds
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Bets on higher market turbulence have backfired this year
Does the lack of worry in global financial markets worry you? A growing number of hedge fund managers are counting on it…
Hedge Funds Can’t Resist This Volatility Trade That’s Been Losing Money
The Money-Losing Volatility Trade That Hedge Funds Can’t Resist
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Global Sigma, BTG Pactual among firms adding volatility funds
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Bets on higher market turbulence have backfired this year
Does the lack of worry in global financial markets worry you? A growing number of hedge fund managers are counting on it…
The Money-Losing Volatility Trade That Hedge Funds Can’t Resist
Jim Chanos’s Short Hedge Funds Have Fallen This Year
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Kriticos, Ursus funds at Kynikos firm saw declines last month
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Chanos short bets include Tesla, Continental Resources
Legendary short-seller Jim Chanos is losing money in his two hedge funds that bet against companies amid a market rally, which has pushed stocks to record highs…
Jim Chanos’s Short Hedge Funds Have Fallen This Year
Quant Hedge Fund Acrospire Shuts Down After Clients Pull Money
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Hedge fund had $350 million at peak before poor performance
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A string of prominent hedge funds have closed this year
Another hedge fund is calling it quits…
Quant Hedge Fund Acrospire Shuts Down After Clients Pull Money
Hedge Funds Battle With Goldman Sachs in Going Long on Aussie
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Goldman Sachs Asset Management positioned for Aussie declines
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Leveraged funds lift net-long positions to 4 1/2-year high
Goldman Sachs Asset Management is clashing with speculators in a wager on a weaker Australian dollar, just as those hedge funds top up bets on the currency appreciating…
Hedge Funds Battle With Goldman Sachs in Going Long on Aussie
This Hedge Fund Manager Says He’d Short Amazon at $1,000 a Share
Posted by: | CommentsMark Yusko, founder of $2.5 billion Morgan Creek Capital Management, says he would short Amazon.com Inc. if the stock reaches $1,000 a share…
This Hedge Fund Manager Says He’d Short Amazon at $1,000 a Share
Whitney Tilson to Shut Hedge Fund After ‘Sustained’ Poor Returns
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Clients told reporting losses ‘to you was making me miserable’
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Shutting down ‘was a hard decision, but the right one’
Whitney Tilson is closing his hedge fund, Kase Capital Management, and returning money to investors after struggling with losses…
Whitney Tilson to Shut Hedge Fund After ‘Sustained’ Poor Returns
The Massive Hedge Fund Betting on AI
Posted by: | CommentsInitially wary of the technology, Man Group was soon persuaded by the returns from algorithm-centric funds.
As chief executive officer of one of the world’s largest hedge funds, Luke Ellis prides himself on a healthy appetite for risk. “My job,” he says, “is to not blink.” About five years ago, he did, though—in a big way. What spooked him was an experiment at his firm, Man Group Plc. Engineers at the company’s technology-centric AHL unit had been dabbling with artificial intelligence—a buzzy, albeit not widely used, technology at the time. The system they built evolved autonomously, finding moneymaking strategies humans had missed. The results were startlingly good, and now Ellis and fellow executives needed to figure out their next move…
A Crypto Fund King Says Bitcoin Will Be the Biggest Bubble Ever
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He is said to aim to raise $500 million after Fortress losses
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‘Largest bubble of our lifetimes,’ he says of digital currency
Mike Novogratz is reinventing himself as the king of bitcoin.
The swaggering macro manager who flamed out at Fortress Investment Group LLC is starting a $500 million hedge fund to invest in cryptocurrencies, initial coin offerings and related companies. Novogratz will put up $150 million of his own money and plans to raise $350 million more by January, mainly from family offices, wealthy individuals and fellow hedge fund managers, said a person familiar with his plans…
Springsteen Tickets Hit $10,000, and Wall Street Gets Scalped
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Hedge-fund money chases soaring ticket prices in new era
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Alleged frauds ensnared Michael Dell, Paul Tudor Jones
We ain’t in Asbury Park anymore: prime tickets to “Springsteen on Broadway” are now going for as much as $10,000 on StubHub.
Even a cheap seat will cost you $1,400. Never mind that it says $75 on the ticket.
Sure, those $2.50 tickets, circa “Rosalita,” disappeared in the ’70s. But The Boss’s run at Broadway’s Walter Kerr Theater is just the latest example of how today’s ticket resellers, AKA scalpers, help drive prices to you’ve-got-to-be-joking levels…
Best Hedge Fund on India Says Expect 7 Good Years in the Next 10
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Indian market never cheap, focus on long term: Habrok’s Khanna
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Reform push should bolster economic expansion next year
The top-performing hedge fund focused on India isn’t scared by equity valuations that are the most expensive in 10 years and predicts Asia’s third-largest economy will have seven good years in the next decade.
Rahul Khanna, chief investment officer at Habrok Capital Management LLP, said his fund is betting on the long-term potential of the economy, which will begin to benefit next year from the government’s crackdown on black money and a nationwide sales tax. Last year’s cash ban and the goods and services tax introduced July 1 are expected to widen the tax base, while the latter should also make it easier to do business…
This Hedge Fund Investor Says China Bears Are Missing Something
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Mark Yusko’s Morgan Creek has invested in China since 1995
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China’s bad debt may be 40% smaller than bears estimate: Yusko
One hedge fund investor says Kyle Bass, Jim Chanos and other China bears are missing a key piece of the equation.
Global investors have underestimated the power of China’s command economy, where leaders can cancel or forgive debts and control the currency, Mark Yusko, chief investment officer of Morgan Creek Capital Management, said in an interview. China’s unique ability to control its market ensured that predictions of a yuan crash, a debt crisis and an economic hard landing didn’t play out, said Yusko, whose Chapel Hill, North Carolina-based firm manages about $2.5 billion in private investments and hedge funds…
Hugh Hendry Murders His Hedge Fund
Posted by: | CommentsDavid Stemerman Shuts His Hedge Fund to Explore Run for Connecticut Governor
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Conatus manages $1.6 billion, down from $2.3 billion at start
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Flagship fund gained 18% this year; media fund up 24%
Hedge fund manager David Stemerman is closing his Conatus Capital Management after a decade to explore a run as the Republican candidate for governor of Connecticut.
As Conatus approaches the end of its tenth year, I have decided to pursue an opportunity in public service and will be winding down the firm in December,” he wrote in a letter to investors. “As I begin to evaluate the opportunity to serve as Connecticut’s next governor, I expect to form a candidate committee that will prepare to launch a campaign in 2018.”
Hedge Funds Bet on Fuels Over Crude as Hurricane Trade Persists
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Wagers on rising diesel prices reach their highest since 2013
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Gasoline stockpiles had the biggest weekly draw on record
The post-Harvey buzz over fuels is making U.S. crude look like the poor stepchild of hedge funds.
Since the storm battered the heart of America’s refining industry last month, bets on rising gasoline and diesel prices have surged for three straight weeks to the most bullish in years. But when it comes to West Texas Intermediate crude, skepticism is prevailing…
Hedge Funds Bet on Fuels Over Crude as Hurricane Trade Persists
Hugh Hendry Closes Hedge Fund After 15 Years as Losses Mount
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Eclectica Fund lost 9.4 percent this year through August
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Hendry gained fame by betting against banks during crisis
Hugh Hendry, the hedge fund manager known for his provocative statements and contrarian views, is closing his Eclectica Asset Management following a 15 year run that ended with losses.
“It wasn’t supposed to be like this,” Hendry said in an investor letter seen by Bloomberg. The fund “became strongly correlated over the short term to the maelstrom of President Trump and the daily news bombs emanating from the Korean Peninsula,” making it impossible to manage small amounts of money, he said…
Hedge Funds Are Hacking Blockchains to Guide Crypto Investments
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Proliferation of ICOs raises risk of faulty, fraudulent deals
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Crypto hedge funds have raised more than $800 million
Lucas Ryan of MetaStable Capital took a deep dive into the computer code underpinning the digital currency Monero to see if it worked as promised. He even took a core piece written in C ++, and rewrote it in the programming language Python.
The extra effort paid off. After taking the time to vet Monero before its investment, the San Francisco-based hedge fund has seen a 100-fold return, said Joshua Seims, who started MetaStable with Ryan three years ago…
Investors Boost Stock Hedges at the Fastest Pace in More Than a Year
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Share of fund managers taking protection rises most since 2016
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BofAML survey shows investors fretting over North Korea
The number of investors seeking protection from a stock market plunge rose by the most in 14 months in September, according to the latest survey of fund managers by Bank of America Merrill Lynch.
There was a 9 percentage point jump in the share of investors buying equity hedges, according to the Sept. 1 to 7 poll of money managers overseeing $629 billion. That leaves only a net 27 percent who have not bought protection, the bank’s strategists said. The level of underweight positions in U.S. equities rose to a ten-year high…
Hedge Funds Used to Love Betting Against China. Now, Not So Much
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Hart has changed his mind; Odey has tempered his view
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Yuan, Chinese stocks have recovered after 2015 turmoil
A sharp devaluation. A credit crisis. And an economic hard landing.
That’s what some of the biggest names in the hedge fund industry were predicting for China after the nation’s stocks and currency tumbled in 2015.
Two years later, it hasn’t worked out quite the way pessimists anticipated. Bets on a devaluation have fizzled as the yuan rallied nearly 7 percent from its eight-year low against the dollar in December. Chinese credit markets have stabilized, while the nation’s equities are back in a bull market…
Hedge Fund Wannabes Busted for Trading on Illegal Amazon Tips
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Trader bought inside information from his pal at Amazon: SEC
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Goal was to show he was top trader and start hedge fund
Two men who had dreams of starting a hedge fund have been accused of taking an unfortunate shortcut to show they were top-notch traders: buying illegal tips from their friend at Amazon.com Inc.
Maziar Rezakhani and Sam Sadeghi of Washington state paid Amazon analyst Brett Kennedy $10,000 for nonpublic information on the online retailer’s 2015 first-quarter earnings, the U.S. Securities and Exchange Commission said in a Thursday statement. Their goal was to establish a successful track record so they could impress investors and start a New York hedge fund, the SEC said…
The Hot New Hedge Fund Flavor Is ‘Quantamental’
Posted by: | CommentsFundamental and quantitative investing used to be the hedge-fund versions of oil and water: They didn’t mix. Those in the fundamental camp do analysis the old-fashioned way, evaluating investments based on research and instinct, with humans calling the shots. Quantitative money managers turn to sophisticated computer algorithms that search mountains of data for hidden signals and then make rapid-fire investment decisions. A middle ground has recently emerged: “quantamental” investing, a merger of computer and human-based decision making. It’s not yet clear whether the whole is more than the sum of its parts…
The Hot New Hedge Fund Flavor Is ‘Quantamental’
Mathew Martoma’s Insider Trading Conviction Is Upheld
Posted by: | CommentsA federal appeals panel upheld on Wednesday the insider trading conviction of Mathew Martoma, a former portfolio manager for Steven A. Cohen, in what prosecutors once called the most lucrative insider trading scheme of all time.
Lawyers for Mr. Martoma, who is serving a nine-year prison sentence, had argued, in light of a recent ruling by the Supreme Court, that the jury in the trial had not been properly instructed and that the evidence the government presented was not sufficient to support a conviction…
Mathew Martoma’s Insider Trading Conviction Is Upheld
SoftBank and Fund to Invest $4.4 Billion in WeWork
Posted by: | CommentsSoftBank said on Thursday that it and its $93 billion Vision Fund would invest $4.4 billion into WeWork, the fast-growing start-up that provides shared work spaces.
The enormous investment is the latest one made by SoftBank, which has been making outsize bets on a dizzying array of start-ups.
Such has been the ambition of SoftBank’s founder, Masayoshi Son, that the Japanese conglomerate has been able to raise tens of billions of dollars from the likes of Saudi Arabia and Apple for its Vision Fund…
SoftBank and Fund to Invest $4.4 Billion in WeWork
In Battle Over Texas Utility, Elliott Is Grasping at Straws
Posted by: | CommentsElliott Management, the hedge fund run by Paul Singer, is grasping at straws in its battle for bankrupt Energy Future Holdings.
The hedge fund now owns enough of the company’s debt to block a takeover offer from Berkshire Hathaway, according to The Wall Street Journal and other reports. Yet such a move makes little sense without a viable alternative. The judge has wider interests to consider, and Berkshire’s boss, Warren E. Buffett, appears to see through Elliott’s posturing…
In Battle Over Texas Utility, Elliott Is Grasping at Straws
After Alibaba Bonanza, Manager Said to Plan New Asia Hedge Fund
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Ravisankar was involved in trade that made eight-fold return
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His firm plans concentrated investments in future leaders
Hari Ravisankar, who helped Janchor Partners make an eight-fold return on an investment in Alibaba Group Holding Ltd., is starting his own Asia-focused stock hedge fund, said people with knowledge of the matter.
His Ishana Capital, based in Hong Kong, will start trading with external money on Sept. 1, said the people, who asked not to be identified because the information hasn’t been publicly disclosed. Initial capital for the fund has been pledged by institutions including HS Group, a Hong Kong-based strategic investor in hedge funds, the people said…
After Trump Hedges His Condemnation of Hate, C.E.O.s Organize a Mass Defection
Posted by: | CommentsOn Tuesday, Indra Nooyi, the chief executive of PepsiCo, joined a call with other prominent corporate chieftains who — like her — had agreed to advise President Trump.
A rebellion was brewing.
Along with other business leaders, Ms. Nooyi had watched with bafflement over the weekend as Mr. Trump blamed “many sides” for an outburst of white supremacist violence in Charlottesville, Va…
After Trump Hedges His Condemnation of Hate, C.E.O.s Organize a Mass Defection
Old-School Stocks Lifted Returns at This Japanese Hedge Fund
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Akamatsu Fund is on track to post highest return since 2013
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Small-cap stocks boosted returns at some Japan hedge funds
Akamatsu Fund, a $60 million Japan-focused hedge fund, is on track for its best returns in four years as bets on small-cap manufacturing stocks started to bear fruit.
The long-short fund rose 2.2 percent in July, bringing its returns for the first seven months of the year to 12 percent, according to the fund’s monthly report to investors. The fund, which invests in stocks excluding Japan’s biggest 250 companies, rose as picks including Wavelock Holdings Co., a plastic manufacturer, and condom maker Sagami Rubber Industries Co. helped lift returns…
Goldman Tops Banks Betting on a New Type of Hedging
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Goldman has bet on 15 fintech ventures this year, report shows
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JPMorgan ranks second among banks with nine investments
A new type of hedging is sweeping Wall Street this year.
Goldman Sachs Group Inc. and JPMorgan Chase & Co. are leading big banks in plowing record funds into outside ventures trying to disrupt their industry, a role typically dominated by venture capital firms, according to a report from Opimas, a management consultancy…
Goldman Tops Banks Betting on a New Type of Hedging
Hedge Funds Break Up With Long-Adored Apple and Facebook Shares
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Investments in the two FAANG firms declined in second quarter
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Investors pushing up Blue Apron shares should look at Snap
Hedge funds have adored the FAANGs for so long it’s no wonder that two of them — Apple Inc. and Facebook Inc. — are losing their appeal.
Ken Griffin’s Citadel sold 3.4 million shares of Apple, the majority of its stake. And Viking Global Investors, led by Andreas Halvorsen, shed 9.6 million shares of Facebook, or most of its holding. These are just two tidbits from the fire-hose of data hedge fund managers disclosed Monday in 13F filings, due 45 days after the end of each quarter…
Shorting China Commodities ‘Very Compelling’ Says Hedge Fund
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Iron ore, zinc may be close to peak: Academia’s Szpakowski
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Some China leveraged commodities set to ‘unwind’ next 6 months
The bubble may be about to burst for commodities pumped up by China’s efforts to reform its steel industry, presenting a compelling opportunity for investors to sell, according to hedge fund Academia Capital.
While speculative buying has boosted raw materials from iron ore to zinc, those gains may reverse as growth slows into 2018, according to Ivan Szpakowski, chief investment officer at the hedge fund. Szpakowski predicted oil would be the “trade of the year” in January 2016, just before Brent prices slumped to a 12-year low and then doubled to end the year near $57 a barrel…
Dalio Recommends Gold as Hedge Against Rising Political Risk
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Famed investor recommends having 5-10% of assets in gold
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Current risks are ‘especially challenging to price in’
Hedge fund manager Ray Dalio recommends investors consider placing 5 percent to 10 percent of their assets in gold as a hedge against current political and economic risks.
Dalio, the idiosyncratic billionaire who leads the world’s largest hedge fund at Bridgewater Associates, said the market may be challenged by current events, according to a LinkedIn post on Thursday.
“The emerging risks appear more political than economic, which makes them especially challenging to price in,” wrote Dalio, who rarely makes specific market recommendations…
Hedge Funds Seen Gaining Market Influence in Passive Money Boom
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Hedge funds’ growing power may be distorting asset prices
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Asset managers have warned U.K. regulator about this issue
The decade-long growth of cheap index-tracking funds is giving hedge funds an unexpected influence in setting market prices.
As investors hand more of their money to passive fund managers and active stock pickers get sidelined, hedge funds’ heft is being magnified. Active fund managers have complained to Britain’s financial regulator that increased index-tracking is distorting markets by allowing hedge funds with “short-term” outlooks to set prices that don’t reflect fundamentals…
Hedge Funds Seen Gaining Market Influence in Passive Money Boom
How Japanese Hedge Funds Are Aiming Small for Big Returns
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Simplex fund returns 29% in first half by targeting small caps
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Japan-focused funds are world’s third-best performers so far
Aiming small is helping some Japanese hedge funds deliver outsize returns.
Simplex Asset Management Co.’s Japan Lower Market Strategy fund, which scours the nation’s three regional exchanges for small-cap stocks, returned 29 percent in the first six months of the year. Eschewing big-name companies also helped Sparx Group Co.’s Value Impact Fund gain 19 percent in the first half, while Strategic Capital Inc.’s activist fund added 15 percent, according to the firms.
Mega-Hedge Funds Are Reporting Big Gains
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Year-long stock rally helps RIEF, Viking surge almost 9%
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Griffin’s flagships Kensington and Wellington up almost 7%
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Rallying stock markets are helping lift returns at mega-hedge funds including Viking Global Investors and Renaissance Technologies.
Andreas Halvorsen’s Viking and an equity-focused quantitative fund at Renaissance are up more than 9 percent this year through July, according to person with knowledge of the matter and an investor document seen by Bloomberg News. Dan Loeb’s Third Point Offshore Fund reported a gain of 11.7 percent for the first seven months of 2017, the firm’s website shows. Ken Griffin’s main Wellington and Kensington funds at Citadel rose almost 7 percent…
China Hedge Fund Says Most ‘Violent’ Phase of Deleveraging Over
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China’s stock, bond markets poised to rally, Chongyang says
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President Wang is more positive, ‘especially’ on stocks
Shanghai Chongyang Investment Management Co., whose oldest China hedge fund has returned almost three times as much as equity benchmarks, said the nation’s stock and bond markets are poised to rally as the “worst” part of a deleveraging process appears over.
“As far as market impact is concerned, the most violent phase of this campaign-style deleveraging is over,” Chongyang President Wang Qing said in an interview with Bloomberg TV in his office atop a skyscraper overlooking Shanghai’s financial district. He is “more positive” on the outlook for bonds and “especially the stock market.”…
Boston Hedge Fund Manager Arrested and Charged With Ponzi Scheme
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Raymond Montoya allegedly defrauded investors in his RMA fund
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He was released on $100,000 bail and is in plea negotiations
Boston-area hedge fund manager Raymond Montoya, who led the RMA Strategic Opportunity Fund LLC, was arrested and charged by federal prosecutors with running a Ponzi scheme.
The federal charges on Wednesday followed a civil lawsuit in June in which the Massachusetts Securities Division claimed Montoya committed securities fraud when he told investors that he had $5 billion of assets in his fund in 2015. In sworn testimony, he said the fund’s high-water mark was about $20 million…
The Oil Market’s Hidden Signals Show U.S. Producers Are Hedging Again
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BNP Paribas, PVM see producer hedging as prices near $50
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Shale companies not backing away from large output targets
Look under the hood of the oil market and one thing becomes apparent — shale producers seem to be hedging again.
Demand for the contracts that producers use to guarantee price levels soared after 2018 West Texas Intermediate crude returned to $50 a barrel. At the same time a raft of trades were reported to U.S. regulators last week that showed some producers hedging at levels as low as $45 a barrel, according to data compiled by Bloomberg…
Paul Tudor Jones Clients Pull 15% From Main Hedge Fund
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BVI client assets sink to $3.6 billion, half value of year ago
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Billionaire macro manager’s fund is down 1.9 percent
Paul Tudor Jones’ investors are increasingly deserting him.
The billionaire macro manager who helped give rise to the hedge fund industry saw clients pull about 15 percent of their assets from his main fund in the second quarter, according to investors who asked not to be identified discussing private information. That’s left client assets at about $3.6 billion, almost half the value a year ago.
Starboard Value Hedge Fund Wants to Force ComScore to Hold an Annual Meeting
Posted by: | CommentsStarboard Value, an activist hedge fund known for taking on companies like Yahoo and Macy’s, has unveiled its next target: comScore, the big media measurement company.
Starboard sued comScore on Tuesday in a Delaware court, seeking to force the company to schedule an annual meeting for the first time in two years.
The hedge fund said it had amassed a 4.9 percent stake, making it one of comScore’s biggest shareholders, according to data from Standard & Poor’s Global Market Intelligence.
A representative for comScore said the company was assessing the lawsuit, but declined to comment further…
Traders Think Hedge Funds Are Missing a Trick With Oil
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Vitol CEO Ian Taylor: “Physical differentials are improving”
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Discounts narrow as refiners run harder, global demand rallies
Hedge funds are still holding large bearish bets against oil and OPEC, yet out in the real world traders and refiners buying and selling actual barrels say it’s starting to look somewhat more bullish.
“The market is looking a bit better,” Ian Taylor, chief executive officer of Vitol Group, the world’s largest oil trader, said in an interview. “Physical differentials are improving across the world.”
This Hedge Fund Is Betting $280 Million on a 34-Year-Old Guy
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‘You pay people for what you think they’re going to do’
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Firm lost a third of its assets to Africa bribery scandal
Dan Och still runs the show at Och-Ziff Capital Management Group. He’s the chief executive officer, the chairman of the board and very much the face of the hedge-fund powerhouse he founded more than two decades ago.
But in the wake of a bribery scandal that spooked clients and blew away a third of its assets, the fund’s fate is in many ways now in the hands of a little-known 34-year-old named Jimmy Levin…
Hedge Fund Uses Algae to Reap 21% Return
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Desmond Lun’s AI trading model draws on computational biology
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Biologists are ‘kicking butt’ in data science, professor says
Hedge fund manager Desmond Lun’s 21 percent average return over the last four years springs from an unlikely source — a petri dish of algae.
Lun, 37, is a new kind of quant, combining AI wizardry with old-school biology to trade futures. Although his Taaffeite Capital Management is small, Lun makes a big claim: His research into one of the natural world’s most byzantine systems — the biological cell — has given him an edge in untangling the secrets of financial markets…
Summer’s Most Common Hedge Fund Theme Is the Global Recovery
Posted by: | CommentsInvestors positioned for the global recovery are in good company: it’s the most common bullish investment theme for hedge funds this summer, according to Lyxor Asset Management.
As interest in hedge funds rises again — they saw the biggest jump in demand among asset classes examined in a Credit Suisse Group AG report last week — Lyxor strategists including Jean-Baptiste Berthon set out current investment trends in a recent note…
Summer’s Most Common Hedge Fund Theme Is the Global Recovery