Funds
Activist hedge fund TCI Fund Management is challenging Italy’s government over the sale of a motorways unit held by Atlantia, the Rome-headquartered infrastructure group which managed the Morandi Bridge that collapsed in Genoa in 2018, killing 43 people.
The long running battle between Elon Musk’s Tesla and short sellers looks set to continue despite the company’s unexpected results…
Altana Wealth, the credit, currency and special situations-focused hedge fund led by former Trafalgar Asset Managers co-founder Lee Robinson, believes its specialist corporate bond strategy is well placed to generate further gains following a strong second quarter performance.
The firm’s Altana Corporate Bond Fund – which trades a range of short-duration investment grade and opportunistic high-yield and event driven credit themes globally – made 2.5 per cent in June, and rose more than 9 per cent overall during Q2.
The gains partly eased sharp losses suffered during the Q1 sell-off. But the fund’s USD share class was still down more
CIAM, the London and Paris-based activist hedge fund, has hit out at Ontex Group NV over what it sees as financial underperformance and a lack of strategic direction, and is calling for a shake-up of the Belgian personal hygiene products manufacturer’s board.
Alger Management’s Alger SICAV – Alger Dynamic Opportunities Fund has been selected as a constituent in the HFRX Global Hedge Fund Index.The Alger Dynamic Opportunities Fund is a long/short hedged equity fund that invests primarily in US-domiciled companies. It aims to provide investors with long term capital appreciation, downside protection, and lower volatility. Investors in the Fund have access to two premier growth equity managers—Fred Alger Management, LLC and Weatherbie Capital, LLC—that have a combined 25-plus years of hedged equity experience. The portfolio management team is led by Alger CEO and Chief Investment Officer Dan Chung, CFA.
The HFRX
The London Derivatives Exchange (LDX) has selected exchange tech specialist Exberry to provide matching engine technology. The partnership will enable LDX to launch global markets and cover a wide spectrum of asset classes.Digital assets have emerged as an attractive new investment class, especially since the pandemic, and demand for alternative secondary market trading opportunities is increasing. Exberry’s infrastructure aims to overcome the limitations of current exchange technology by delivering a platform designed to help any asset class launch markets, pivot, and scale.
LDX will leverage Exberry’s platform to provide technology for a wide variety of asset classes – from new
Algebris Investments, the London-based multi-strategy credit and equities-focused hedge fund firm headed by Davide Serra, is diversifying its positions across credit markets amid a still-fragile recovery and “eerie mood” among investors.
The Algebris Global Credit Opportunities Fund – formerly known as the Algebris Macro Credit Fund – has increased its exposure to inflation-linked debt and convertibles in recent weeks, while maintaining upside convexity in gold.
Alberto Gallo, head of macro strategies at Algebris and portfolio manager of the Algebris Global Credit Opportunities Fund, said the strategy has also taken positions in idiosyncratic special situations in credit, which offer uncorrelated upside.
Short selling is essential in enabling investors to hedge against ESG risks, and has bolstered market transparency by uncovering corporate wrongdoing and environmental negligence, according to a new study by the Alternative Investment Management Association and global law firm Simmons & Simmons.
The paper – ‘Short Selling and Responsible Investing’ – probed how the booming trend of ESG (environmental, social, and governance) investing interacts with short selling, the often-criticised practice that is central to most traditional hedge fund strategies.
The study found that responsible investing does not necessarily require long holding periods, and suggested shorting can be “an excellent tool”
For Dixon Boardman, the CEO and founder of Optima Asset Management and renowned fund-of-hedge funds pioneer, the dramatic turbulence that shocked markets earlier this year is unlike anything ever seen during his three decades-plus of investing.
Boardman – an industry trailblazer who launched Optima back in 1988 – believes the spiralling Q1 drop was more sudden and swift than even the epochal Wall Street Crash of 1929, while the sharp rebound that sent stocks soaring despite the ongoing coronavirus crisis was almost as remarkable.
“There’s never been anything like what happened in March,” says the industry veteran, reflecting on the 2020
EEX Group continued to achieve significant global growth during the first half of 2020 reporting double and triple digit increases across the majority of its markets. In addition to major increases in the global power segment, EEX Group achieved outstanding results in Dry Freight alongside healthy increases in natural gas and environmental products.
Peter Reitz, CEO of EEX, comments: “2020 has certainly been a year where the world has faced unprecedented challenges. As an exchange group, we have a responsibility to our customers to provide a safe, secure and stable environment in which to trade and clear. The strong performance
