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TOP STORY: Multi-strategy hedge fund major Millennium Management is seeking to expand its footprint in India by establishing a local investment-management operation, according to a report by Bloomberg citing unnamed people familiar with the matter.
Investors are increasingly favouring hedge funds and multi-strategy vehicles over private credit amid ongoing market uncertainty, according to a report by Bloomberg citing comments from UBS Global Wealth Management co-presidents Iqbal Khan (pictured) and Robert Karofsky.
Schonfeld Strategic Advisors is preparing to establish a new office in Zurich, further expanding its presence in Europe as competition intensifies among multi-strategy hedge funds seeking to attract and retain investment talent, according to a report by Bloomberg.
AI is an increasingly important tool for hedge funds and asset managers operating in credit markets, but the tech is being used primarily to enhance investment processes rather than replace investment professionals, according to report by the Financial Times citing new research from Barclays.
Hedge funds are intensifying bearish bets against a range of customer experience and business process outsourcing companies as concerns mount that advances in artificial intelligence could fundamentally reshape the sector, according to a report by the Financial Times.
Bloomberg has added Apptopia as a key provider of mobile app intelligence on its Terminal, expanding the availability of alternative data signals used by institutional investors to track corporate performance and consumer behaviour in near real time.
Universal Music Group shares came under pressure after Bill Ackman’s Pershing Square Capital Management completed the sale of its remaining stake in the company, ending a multi-year investment that had previously included an unsuccessful takeover attempt, according to a report by the Wall Street Journal.
Interest in hedge fund careers continues to intensify, with Millennium Management’s newly launched investment internship programme already fully subscribed more than a year before participants are due to begin, according to a report by eFinancial Careers.
DE Shaw & Co is lengthening investor withdrawal periods on two of its largest hedge funds while closing smaller vehicles, reflecting a broader industry shift among multi-strategy managers toward tighter liquidity controls and more stable capital bases, according to a report by Bloomberg.
Qube Research & Technologies has appointed former Citadel Securities trader Holly Lau as its US chief operating officer, underscoring the quant firm’s accelerating expansion in North America and continued push into electronic trading and market-making strategies, according to a report by eFinancial Careers.
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