Managers
The Chairman of the FTSE 250 Edinburgh Worldwide Investment Trust, Jonathan Simpson-Dent, has dismissed claims by US hedge fund Saba Capital that it could better manage the trust, stating there is “no evidence” to support such assertions, according to a report by This is Money.
Inflation or deflation and geopolitical issues are considered the top two risks facing hedge funds from a ranked list of ten, according to hedge fund executives surveyed by Beacon Platform. This is followed by exchange rates and asset class volatility, while they were least concerned with third-party failures and regulatory changes.
Boaz Weinstein, the head of US hedge fund Saba Capital, has expressed his ambition to act as a “white knight” for UK investors and the London Stock Exchange by investing in the £266bn UK investment trust sector, according to the Financial Times.
Scott Bessent, President-elect Donald Trump’s nominee for Treasury Secretary, plans to resign from macro hedge fund Key Square Group and divest his assets to prevent conflicts of interest if confirmed by the Senate, according to a report by Bloomberg.
John Overdeck and David Siegel, the billionaire Co-Founders of Two Sigma Investments, are set to enter arbitration following a long-running dispute over the future direction of the quantitative hedge fund, according to a report by Reuters.
Fund managers have raised concerns with the City watchdog about US hedge fund Saba Capital’s plan to seize control of seven London-listed investment trusts, warning that shareholders could be left uncertain about the whereabouts of their investments, according to a report by This Is Money.
Two UK investment trusts managed by Janus Henderson have urged shareholders to reject a proposal from Saba Capital Management to replace their entire boards, claiming it would effectively hand control to the US-based activist hedge fund, according to a report by Reuters.
Proxy advisory firm Glass Lewis has endorsed the election of all four board candidates proposed by activist investor Mantle Ridge for Air Products and Chemicals, marking a key moment in the year’s first major board battle, according to a report by Reuters.
Singapore-based hedge fund Modular Asset Management, a spinoff of Millennium Management, is set to establish a presence in Hong Kong, reflecting the city’s ongoing efforts to solidify its status as a global financial hub, according to a report by Bloomberg.
Nicolas Monaghan, the trader embroiled in a legal dispute between Schonfeld Strategic Advisors and his former employer, Garda Capital Partners, is gearing up to launch his own hedge fund, Mistral Capital, with an initial $1bn allocation from Schonfeld, according to a report by Bloomberg.
