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Singapore and Hong Kong are stepping up their battle to attract hedge funds and the people who run them, with tax incentives emerging as the latest weapon in the competition between Asia’s two financial centres, according to a report by the Business Times.
TOP STORY: Quantitative hedge funds suffered their sharpest daily decline in more than two years ton Wednesday as violent market rotations battered momentum strategies, adding to pressure on systematic managers following last month’s technology sell-off, according to a report by the Financial Times.
Hedge funds endured their sharpest monthly underperformance against the S&P 500 in more than two decades in July, as a reversal in AI stocks forced managers to cut positions and reduce exposure to some of the market’s most crowded trades, according to a report by CNBC citing data from Goldman Sachs.
Deutsche Bank is rebuilding its energy trading franchise with a series of senior appointments, marking a significant expansion of its commodities capabilities more than a decade after the German lender largely retreated from the sector, according top a report by Bloomberg.
DE Shaw has accumulated a stake worth more than $1bn in Sysco, adding significant weight to the hedge fund’s long-standing investment in the US food distribution giant as the company seeks to accelerate growth and cut costs through AI, according to a report by Reuters.
US Treasury secretary Scott Bessent is taking on increasingly sceptical bond investors as Washington attempts to contain rising borrowing costs in the $32tn Treasury market without addressing the deeper fiscal pressures driving yields higher, according to a report by then Financial Times.
Hamza Lemssouguer’s Arini Capital Management suffered a sharp setback in July, with its flagship hedge fund falling about 8% after several credit positions moved against the London-based manager, according to a report by Bloomberg citing unnamed people familiar with the results.
Two Sigma Investments lost a major investor in 2023 amid the long-running dispute between billionaire co-founders John Overdeck and David Siegel, according to a report by Bloomberg citing testimony from Overdeck in his ongoing divorce proceedings.
Standard Chartered is increasing its focus on hedge fund strategies as it encourages wealth management clients to diversify portfolios and reduce their exposure to volatile markets, according to a report by Reuters.
Rokos Capital Management and Brevan Howard Asset Management were among a group of prominent hedge funds to suffer losses in July as sharp swings in artificial intelligence stocks disrupted strategies across the industry, according to a report by Bloomberg.
