Funds
Goldman Sachs is on track to generate more than $5bn in equities trading revenue during the second quarter, putting the Wall Street bank within reach of another near-record performance as heightened market volatility continues to drive client activity, according to a report by Bloomberg.Â
Tycho Capital has expanded its alternatives platform with the launch of the Tycho Zazove Convertible Arbitrage Fund, a strategy managed by US-based convertible securities specialist Zazove Associates.
Millennium Management has hired a senior credit trader from Tower Research Capital, according to reports, marking another example of the continued competition for talent between hedge funds and proprietary trading firms.
Multi-strategy hedge fund ExodusPoint Capital is set to hire most of the investment team from Hong Kong-based hedge fund Ovata Capital Management, according to people familiar with the matter, in a move that will expand its presence in Asia while bringing an end to one of the region’s established investment firms, in a report by Reuters.Â
A new generation of hedge fund managers is turning to artificial intelligence to compete with some of the industry’s largest and most established firms, using AI agents to automate research, generate investment ideas and streamline portfolio analysis, according to report by Bloomberg.Â
Coatue Management founder Philippe Laffont is positioning one of his largest artificial intelligence bets around semiconductor equipment suppliers rather than chipmakers themselves, arguing that the sector offers a more attractive way to gain exposure to the AI buildout, according to a report by CNBC.
Energy-focused hedge fund manager e360 Power has adopted a more conservative trading approach after closing its flagship fund following losses and investor redemptions tied to volatile US natural gas and power markets, according to a report by Bloomberg.
A specialist focus on listed real estate has enabled Catalyst Alpha Prescient QI Hedge Fund to deliver long-term equity-like returns while maintaining lower volatility than broader equity and property markets, according to a report by CityWire citing the fund’s 20-year track record.
Hedge funds delivered another month of positive performance in May, extending their recovery from the first-quarter market sell-off, while investor appetite remained strong with the industry recording a fifth consecutive month of net inflows, according to the latest data from Citco.
Pershing Square’s investment vehicles are facing a challenging year, with both the firm’s flagship fund and recently launched US closed-end fund underperforming the broader equity market, according to a report by Barron’s.
