Managers
The Shanghai Futures Exchange has unveiled a comprehensive set of proposals aimed at opening China’s commodities markets to foreign hedge funds and institutional investors, as part of a broader push to internationalise the renminbi, according to a report by Reuters.
Saba Capital Management has reached a deal with CQS Natural Resources Growth & Income Trust (CYN) that will see the £74m closed-end fund offer a 100% tender at net asset value, following a period of shareholder engagement led by the US activist hedge fund.
A $10bn wager by merger arbitrageurs on Chevron’s $53bn acquisition of Hess Corp is approaching a pivotal juncture, as ExxonMobil’s legal challenge to the deal enters a critical phase this week, according to a report by Bloomberg.
In a significant repositioning, hedge funds sharply increased their net-long exposure to Brent crude futures as the probability of a swift US-Iran nuclear accord diminished, raising concerns over potential disruptions to Iranian oil supply, according to a report by Bloomberg.
Croatian fund manager Mathematica Capital Partners has announced the launch of its second hedge fund, Zenith, as it looks to capitalise on increased market volatility and demand for sophisticated investment strategies, according to a report by SeeNews.Â
Pershing Square Capital Management, the hedge fund led by billionaire activist investor Bill Ackman, has initiated a new position in Amazon, while exiting Canadian Pacific, as part of a broader portfolio reshuffle, according to a report by Reuters.
A sharp rise in long-term US Treasury yields is placing renewed pressure on a widely held hedge fund strategy predicated on the relative outperformance of government bonds versus interest rate swaps, according to a report by Bloomberg.
Hedge funds led a sharp rise in equity inflows at Bank of America Securities last week, even as retail investors ended a near six-month streak of net buying, according to a report by Investing.com citing the bank’s latest client flow report.
The bond market’s pushback against unsustainable US fiscal policy is only just beginning, according to a report by Bloomberg citing Tim Magnusson, Chief Investment Officer at Minneapolis-based hedge fund Garda Capital Partners.
Activist hedge fund Elliott Management has secured two board seats at Phillips 66, marking its first-ever successful proxy vote campaign against a major US corporation and signalling a potential strategic shift at the $46bn oil refiner, according to a report by the Financial Times.
