Funds
Mega-cap tech stocks remain the cornerstone of hedge funds’ top 20 equity positions, according to a report by MarketWatch citing recent analysis of 332 money managers with in excess of $1bn in AUM.
David Goel, a former protégé of Tiger Management founder Julian Robertson, has decided to close his $11bn hedge fund firm Matrix Capital Management and return client cash, due to personal health issues, according to a report by Bloomberg.
Dubai-based Magellan Capital Holdings Ltd is set to launch a $700m multi-strategy hedge fund next month, in what will be one off the largest ever fund debuts in the United Arab Emirates, according to a report by Bloomberg.
Data from research firm PivotalPath has highlighted that hedge funds outpaced the S&P500 in July, with strong returns driven by financial sector exposure as funds sought to diversify away from megacap technology stocks, according to a report by XM.
Hong Kong’s Securities and Futures Commission has granted a new license to Pamalican Asset Management, a new hedge fund that will specialise in equity capital markets, amidst heightened scrutiny of block trades, according to a report by Bloomberg.
London-based hedge fund Caxton Associates has chalked a $270m gain this month leverage strategic bets on both US Treasuries and the Japanese yen to boost performance amid recent market volatility, according to a report by the Financial Times.
An activist fund at Boaz Weinstein’s Saba Capital Management, which focuses exclusively on investments in BlackRock’s closed-end products, surged by 22% this year up to the end of July, according to a report by Bloomberg.
Former Engine No. 1 executive Charlie Penner, known for his landmark shareholder campaign against Exxon Mobil Corp over three years ago, has secured backing from the late Julian Robertson’s Tiger Management for his new activist venture, Ananym Capital Management, according to a report by Bloomberg.
Arini Capital, the credit hedge fund firm launched by former Credit Suisse trader Hamza Lemssouguer in 2022, has reported strong performance rebound for its flagship fund which posted a 7% gain in July after a disappointing first half of the year, according to a report by Bloomberg.
The 16Rock Municipal Opportunities Fund, which is managed by former BlackRock trader James Pruskowski, has delivered a 20% return over the past year, outpacing the muni bond market by 16 percentage points and a broad hedge fund index by 11, according to a report by Bloomberg.
