Funds
Hedge funds betting against easyJet saw their short positions boosted on Thursday as the low-cost airline’s share price took a sharp nosedive after it rejected a takeover bid.
Hedge funds’ narrow rise during August has driven their year-to-date returns back into double-digit territory, as equity long/short, event driven, macro and relative value managers all scored gains in the face of the Afghanistan crisis, ongoing monetary policy uncertainty, and Covid’s continued impact on markets.
Hedge Fund Research’s main Fund Weighted Composite Index – a broad-based index tracking the monthly returns of some 1400 single manager hedge funds across all strategy types – rose 0.80 per cent last month.
August’s positive performance reversed July’s narrow 0.60 per cent loss, which had been the benchmark’s first down month since September 2020.
SimCorp, an independent provider of SaaS investment management solutions, has partnered with Qontigo, a provider of analytics and indices, and part of the Deutsche Börse Group.
The partnership offers SimCorp clients a fully managed portfolio optimisation and risk management and modelling service, within SimCorp Dimension. It is one of several portfolio optimisation and risk analytics partnerships that SimCorp will grow, to complement and enhance its own front office suite, with a choice of market-leading tools for alpha generation and decision making. The partnership forms an integral part of SimCorp’s Open Platform, designed to democratise access to industry innovation and simplify
Cheyne Strategic Value Credit has successfully raised its second fund, Cheyne European Strategic Value Credit Fund II (SVC II) securing EUR 1 billion capacity less than six months after its first close, with strong support from existing investors and significant excess demand from new investors.
Cheyne Strategic Value Credit was established in 2017 as a new investment division within alternative asset manager Cheyne Capital and employs a value-oriented, opportunistic approach to investing in corporate credit, with a focus on special situations and debt restructurings. The group’s inaugural European Strategic Value Credit Fund (SVC I) was substantially oversubscribed and closed at
TCI Fund Management, Sir Christopher Hohn’s high-profile activist hedge fund firm, is calling on Canadian National Railway to end its “reckless, irresponsible, and value destructive pursuit” of Kansas City Southern, and wants to requisition a special meeting of CN shareholders aimed at overhauling the board and replacing its CEO.
TCI, which has been a shareholder in CN since 2018, last week increased its holdings to more than 5 per cent of the shares outstanding, valued at USD4 billion.
TCI said on Tuesday it has retained shareholder advisory firm Kingsdale Advisors to offer strategic advice, assist in engaging with shareholders, and,
Broadridge Financial Solutions has added Ted Bragg and Jim Kwiatkowski to the team at LTX, a Broadridge company offering a new AI-driven digital trading platform for corporate bonds.
Bragg and Kwiatkowski join the LTX leadership team, working closely with LTX CEO Jim Toffey to accelerate the digitisation of corporate bond trading.
“As we leverage next-gen technologies to take the bond market to the next level, Ted and Jim are welcomed additions who are recognised leaders with decades of experience driving transformation in the capital markets industry,” says Toffey. “These latest hires reinforce Broadridge’s commitment and investment in LTX and
Brummer & Partners’ flagship multi-strategy vehicle slipped into the red during August, with all but two of its underlying managers posting losses during the month. The slide comes as the Stockholm-based fund began allocating capital to Kersley Financials, a new financials-focused long/short equity strategy, on 1 September.
Overall, Brummer Multi-Strategy fell 1.1 per cent last month, a loss which dragged down its year-to-date performance to -0.9 per cent. The twice-levered Brummer Multi-Strategy 2xL version meanwhile gave back 2.4 per cent in August, leaving it down 2.4 per cent overall since the start of 2021.
Long/short equity funds Black-and-White and Manticore proved
Integral, a technology company in the foreign exchange market, has reported average daily volumes (ADV) across its platforms of USD44.2 billion in August 2021.
This represents an increase of +0.5 per cent compared to July 2021 and an increase of +11.1 per cent compared to the same period in 2020.
Reported ADV represents volumes traded across the group’s entire liquidity network, including TrueFXTM and Integral OCXTM, in aggregate.
Integral’s global trading network has been designed to meet the execution needs of the widest variety of FX market participants, including banks, brokers, asset managers, and hedge funds. Our clients
The fallout from the Covid-19 pandemic continues to reshape the global macroeconomic and geopolitical landscape, driving both uncertainty as well as opportunity for macro managers – and the Best Macro Hedge Fund category at this year’s Hedgeweek Americas Awards will honour those managers who have successfully steered their strategies through the assortment of rapidly-evolving macro trends.
Macro hedge funds bet on broader macroeconomic trends and themes by trading a range of markets and indices, going long and short across equities, bonds, currencies, and commodities, among others.
The strategy has traditionally been home to many of the hedge fund industry’s best-known
Cairn Capital Group (Cairn Capital), supported by Mediobanca as its majority shareholder, has completed the acquisition and merger with Bybrook Capital (Bybrook).
Bybrook is a London-based specialist credit manager, focused on absolute value stressed/distressed debt and special situations in Europe. It has established an outstanding track record since inception. Bybrook currently manages approximately USD2.4 billion on behalf of top tier international institutional investors.
The merger creates a leading European-focused credit manager with global reach and proven track records across the credit spectrum. The combined firm has approximately USD9 billion of assets under management across leveraged finance, structured credit, special
