Funds
Digital asset investment products saw minor outflows totaling $6.5m last week, following four weeks of inflows that totaled a combined $742m, according to the latest Digital Assets Fund Flows Weekly report from CoinShares.
Bitcoin was the primary investor focus, as has recently been the case, seeing $13m of outflows, while short bitcoin investment products saw outflows for the 13th consecutive week totaling $5.5m.
Ether topped the inflows leaderboard last week, attracting $6.6m inflows, suggesting sentiment for the cryptocurrency, which has been poor this year despite the so-called Merge in September 2022 when ether switched from a proof-of-work to a proof-of-stake
Activist hedge fund TMR Capital is plotting a bid for The Restaurant Group in a move that would break up the FTSE 250-listed hospitality company behind Wagamama, according to a report by the Daily Telegraph.
The British Virgin Islands-based manager, which has built up a 1.75% stake in The Restaurant Group, is reportedly considering a bid for the company’s Brunning & Price pub division and its casual dining chains, which include Frankie & Benny’s and Chiquito.
The two divisions operate more than 100 sites across the UK, and a purchase would leave The Restaurant Group with just Wagamama and a
Man Numeric, the quantitative investment arm of Man Group, says macro themes and nation subsets are outdated, with ever-increasing volumes of data from emerging markets now seen as key to peer-beating returns instead, according to a report by Bloomberg.
Ori Ben-Akiva, director of portfolio management at Boston-based Man Numeric, says the firm’s core emerging market funds are largely ditching the traditional country-by-country approach when it comes to trading portfolios and building investment themes.
Instead, its strategies are now trawling social media accounts, e-commerce websites and other sources to inform choices from around 5,000 developing-nation companies.
The number of models the
The Canada Pension Plan Investment Board, Canada’s largest pension fund, will seed more startup hedge funds this year as part of a plan to diversify its investments, according to a report by the Financial Post.
The CPPIB, which manages $570 billion in assets, will spread funding among more firms as part of its emerging manager programme by reducing the starting amount they invest with each fund. Each will receive amounts starting from US$50 million, down from US$100 million, a person familiar with the matter said.
The move comes as startup hedge funds face an increasingly launch environment, with larger multi-strategy
TOP STORY: Hedge funds are dumping short positions at their fastest pace since January as returns continue to lag the MSCI and bets on a recession continue to falter, according to a report by Reuters.
Activist hedge fund Elliott Investment has acquired a stake in US drug manufacturer Catalent, after the New Jersey-headquartered, NYSE-listed company saw revenues plunge in the first quarter. Elliott is pushing for changes on Catalent’s board after Catalent’s Q1 fell 19%, according to a report by the Wall Street Journal.
Catalent – which conducts outsourcing work for large pharmaceutical companies – had earlier delayed its results announcements three times and slashed its annual revenue forecast for the second time.
During the COVID-19 pandemic, Catalent was contracted by several companies including AstraZeneca, Johnson & Johnson and Moderna to fill vaccine vials at plants
GROW Investment Group, a China-based investment firm backed by Julius Baer Group and Navigator Global Investments, is looking to raise $50 million to buy stakes in domestic hedge fund managers.
Odey Asset Management’s Absolute Return fund is to reopen as the London-based hedge fund firm prepares for the transfer of manager James Hanbury to a rival firm in the aftermath of multiple allegations of sexual misconduct against Odey founder Crispin Odey, according to a report by the Financial Times.
The Arini Credit Master Fund, a $2.2bn hedge fund run by former Credit Suisse European debt specialist Hamza Lemssouguer, has racked up an 18% gain in the first half of the year, on the back of a 5.7% return in 2022, according to a report by Bloomberg.
The report cites an investor document seen by Bloomberg as revealing that assets at the firm, which Lemssouguer started last year with around $1bn from investors including Squarepoint Capital, have since almost tripled to $2.9bn.
The fund’s H1 gain is comfortably ahead of its peer group with credit hedge funds tracked by Bloomberg
Jonas Diedrich and Dave Sutton, former traders at Citadel, have raised $1.85bn for their new London-based hedge fund Ilex Capital Partners, exceeding their initial $1.7bn target, and making the new fund one of the biggest debuts of the year, according to a report by Bloomberg.
