Funds
Two Sigma Investments’ flagship onshore China fund posted a record monthly gain in July on the back of a commodities rally and is now near the top of returns rankings for the year to date, according to a report by Bloomberg.
Templeton Global Income Fund has selected Saba Capital Management (Saba), a global alternative asset management firm specialising in credit relative value strategies and capital structure arbitrage, as its new investment adviser.
Violent swings in asset prices coupled with rapid shifts in investor interest rate expectations have impacted commodity trading advisers (CTAs) so far in 2023, making a repeat of last year’s bumper returns from bets on prevailing global market trends, increasingly unlikely, according to a report by The Financial Times.
Odey Asset Management is shutting its only female run investment vehicle – the Brook Global Emerging Markets Fund – as the firm continues to reorganise operations and deal with the fallout from sexual assault allegations made against founder Crispin Odey, according to a report by Bloomberg.
Pershing Square, the US equities hedge fund founded by Bill Ackman, underperformed in the first half of the year, partly due to efforts to protect the firm against rises in long-term inflation, according to a report by CityWire.
Digital asset investment products saw outflows totalling $55m last week, as investors reacted to media reports that an SEC decision on allowing US spot-based ETFs is not imminent, according to the latest Digital Assets Fund Flows Weekly report from CoinShares.
Oceanwood Capital Management, the hedge firm co-managed by Julian Garcia and Christopher Gate, is closing down, with Deputy CIO Garcia now planning launch his own hedge fund firm next year, according to a report by Bloomberg.
Cristian Cibrario, a portfolio manager at Man GLG, Man Group’s discretionary investment business, has left the firm to launch a new hedge fund, according to a report by With Intelligence.
Hedge funds delivered another month of impressive performance in July, with an overall weighted average return of 1.5% – one of their best months so far this year, albeit a slight decline from the 1.8% monthly high seen in June, according to data from Citco.
Investors are turning their backs on Ucits-managed hedge fund strategies with cash outflows in the first six months of the year totalling €19.4bn, way in excess of the total outflows seen in the whole of 2022, according to a report by CityWire.
