Managers
A recent surge in bullish bets on sterling by hedge fund and other asset managers has set the scene for a sharp correction in the currency, should the Bank of England opt to lower interest rates later this week, according to a report by Bloomberg.
Keystone Investors, a two-year-old Singapore-based, Asia-focused hedge fund firm, has grown its assets to over $2.6bn, with existing client commitments pushing the total to $3bn, according to a report by Bloomberg.
Illinois-based hedge fund Magnetar Capital’s Structured Credit Fund was a standout performer in H2 with a 22% gain as credit-focused hedge funds saw mainly modest gains, according to the Gapstow Alternative Credit Hedge Fund Composite Index which is up 4.6% year to date.
Twelve Capital and Securis Investment Partners, two independent asset management specialists in insurance-linked securities, are to merge, with both sets of shareholders remaining fully invested in the combined business.
Pershing Square, the hedge fund firm led by billionaire Bill Ackman, is moving forward with the initial public offering of its Pershing Square USA closed-end fund, although the pricing date has yet to be announced, according to a report by the Wall Street Journal.
Disappointing demand has prompted hedge funds to cut their net-bullish bets on gasoline to levels not seen since the height of the pandemic, with speculators drastically reducing their net-long positions in gasoline futures, according to a report by Bloomberg.
Despite facing the largest US stock market selloff in over a decade last week, hedge funds largely maintained their positions in technology stocks, according to a report by MarketWatch citing research by the prime brokerage desk at Goldman Sachs.
Hedge funds have made their most significant retreat from bearish yen bets since 2011 as the once-popular carry trade strategy falters, with leveraged investors cutting 56,639 net short positions on Japan’s currency over the two weeks ending 23 July, according to a report by Bloomberg.
Man Group, the world’s largest listed hedge fund firm, has reported strong H1 results, including positive investment performance of $11.1bn – a 2.1% increase relative to peers – and net inflows of $0.9bn, surpassing the industry average by 1.8%.
Mulvaney Capital’s systematic long-term trend-following programme has outperformed so far in 2024, with the strategy recording a huge 134.22% gain despite a decline last month, according to a report by Institutional Investor.
