Managers
Pershing Square’s main hedge fund wiped out almost all of its 2024 gains in July with a 4.7% decline for the month, mainly on the back of a sharp drop in the value of Universal Music Group shares, according to a report by Bloomberg.
A Goldman Sachs note has revealed that Japan-focused hedge funds saw their steepest daily performance loss on record on Monday, according to a report by Reuters, amid a global stock rout triggered by disappointing US jobs data and last week’s Bank of Japan rate hike.
Capula Management, Europe’s fourth largest hedge fund with about $30bn in assets, has revealed a significant holding in spot bitcoin ETFs, with the firm having invested a combined $464m in two funds, according to a report by CoinJournal.
Nabil Oujjane, the founder of multi-strategy hedge fund firm Aster Capital Management, which manages funds on behalf of Schonfeld Strategic Advisors, is relocating from London to Dubai, joining the growing number of portfolio managers operating from the emirate, according to a report by Bloomberg.
Jain Global, the hedge fund firm founded by former Millennium Management Co-CIO Bobby Jain ended its first month of trading with a small loss of 0.65%, while rival multi-strategy firms, including Millennium and Ken Griffin’s Citadel, managed small gains, according to a report by Business Insider.
David Einhorn’s Greenlight Capital experienced a positive turnaround in July with a 3% climb, effectively rebounding from a significant loss in the previous month, according to a report by Institutional Investor.
South Korea has lost its appeal against a ruling that ordered the country to pay more than $100m to US hedge fund Elliott Management, according to a report by Reuters. The dispute centres on the 2015 merger of two Samsung affiliates.
Goldman Sachs has revealed that hedge fund allocations to China have reached their lowest level in five years, amid heightened investor apprehensions about the country’s economic prospects and regulatory landscape, according to a report by Reuters.
New York-headquartered multi-strategy hedge fund firm Walleye Capital is to close its Houston office, with Jim Rowe, Senior Portfolio Manager and Managing Director, also leaving the business, according to a report by Bloomberg.
Several high-profile hedge funds including Balyasny, Man Group, Winton and Bridgewater Associates are rekindling their interest in portable alpha strategies, which seek to ‘decouple’ alpha from beta to capture market-beating returns, according to a report by Business Insider.
