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TOP STORY: Oil trader Pierre Andurand’s riskiest hedge fund, the Andurand Commodities Discretionary Enhanced hedge fund, has bounced back following a record 55% loss in 2023, gaining 20% so far this year, according to a report by Bloomberg.
Amid an ongoing debate over the cost of US equities, global hedge funds have been upping their exposure to European stocks while reducing the portfolio holdings in North American companies, according to a report by Reuters.
Optimism that Saudi Arabia and its OPEC+ allies will continue to restrict production, coupled with an improving economic outlook boosting consumption, has prompted investors to purchased oil at the fastest rate seen in over four years, according to a report by Reuters.
Two former executives at Bridgewater Associates who were ousted from the hedge fund giant as part of a restructuring in 2023, took legal action to secure a “large payout” after accusing the firm of favouritism, and age and sex discrimination, according to a report by Bloomberg.
London-based, emerging markets-focused hedge fund firm Gemcorp Capital is putting together a 15-strong team to run its new new trading office, which is due to open in Abu Dhabi later this year, according to a report by Bloomberg.
Citco has launched Citco Document Intelligence (CDI), which it says is the first ‘AI Plus Human’ platform to offer fund managers and allocators a fully-managed document management service by combining AI and fund reporting experts.
With the price of gold having hit multiple record highs in recent weeks, hedge fund managers are now beginning to turn their attention to silver as the next potential precious metal momentum play, according to a report by Kitco.
LTX, an AI-powered fixed income trading platform and subsidiary of global Fintech, Broadridge Financial Solutions, Inc has integrated with TS Imagine’s Fixed Income Execution Management System, TradeSmart Fixed Income (TradeSmart).
Politan Capital Management, the activist hedge fund firm that already holds two seats on the board of Masimo Corporation as well as 8.9% share in the healthtech and consumer electronics company, has made another two  board candidate nominations.
Losses of more than $70m prompted multi-strategy hedge fund firm ExodusPoint Capital Management to stop Dubai-based Portfolio Manager Bhavit Sawjani’s trading activities late last year, according to a report by Bloomberg.

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