TOP STORY: Man Group, the world’s largest listed hedge fund, is among a number of investment firms increasing their exposure to convertible arbitrage, which seeks to capitalise on price discrepancies between a convertible bond and its underlying stock, according to a report by Bloomberg.

Nelson Peltz, the boss of activist hedge fund firm Trian Fund Management, has sold his entire stake in Walt Disney Co weeks after losing a proxy battle in April at the entertainment giant, according to a report by CNBC.

Activist hedge fund firm Elliott Investment Management has disclosed a stake of more than $2.5bn in chipmaker Texas Instruments, and has written a letter to the company’s board urging the business to improve its free cashflow.

Hedge fund manager Pierre Andurand forecasts a near quadrupling of copper prices to $40,000 a tonne in the coming years, driven by surging demand that is depleting global stockpiles of the red metal, according to a report by the Financial Times. 

Hedge funds are cutting their stakes in large-cap technology stocks, shifting their focus to a broader range of companies that are involved in, or stand to benefit from advancements in AI, according to analysis from Goldman Sachs. 

Two funds previously controlled by Odey Asset Management saw strong performances, ranking them among the top 10 best performing funds globally in April, according to data from Société Générale. 

Jain Global, the much anticipated hedge fund set to be launched soon by former Millennium Management Co-Chief Investment Officer Bobby Jain is to commit a significant chunk of its investment funds to commodities – both derivatives and physical, according to a report by Bloomberg.

Elliott Investment Management, the $8bn activist hedge fund firm founded by Paul Singer, has built a stake worth over $1bn in Johnson Controls International, a specialist in HVAC control systems used by data centres, according to a report by Bloomberg.