Managers
Global proprietary trading firm Jane Street Capital has taken legal action against multi-strategy hedge fund major Millennium Management and two former employees over the alleged theft of trader secrets, according to a report by the Financial Times.
Shares of life insurance company Globe Life dropped by 54% to $57, their lowest point in over a decade, after short seller Fuzzy Panda Research published a research report alleging insurance fraud at the company, according to a report by Reuters.
A slump in Apple’s share price, coupled with the potential for AI upgrades to its iPhones, has led to the company attracting the attention of increasing numbers of hedge funds, according to a report by Bloomberg citing analysts at JPMorgan Chase & Co.
New York-based activist hedge fund FourWorld is looking to reverse a deal involving Frontline, a shipping company controlled by Cyprus’s richest citizen, John Fredriksen, and Belgian crude oil shipping group Euronav, according to a report by the Financial Times.
London-based emerging markets-focused macro hedge fund Broad Reach Investment Management is putting the entirety of its cash allocation for frontier markets into recovery stories in Egypt, Nigeria and Pakistan, according to a report by Bloomberg.
Alternative fund managers, including hedge fund managers, are losing investment mandates or clients because of compliance issues, according to research from Ocorian and Newgate Compliance, both providers of regulation and compliance services for funds, corporates, capital markets and private clients.
Losses incurred from failed bets on telecom network Altice have prompted multi-strategy major Millennium Management to liquidate wagers made by Portfolio Manager and credit trading specialist Jason Feasey, according to a report by Bloomberg.
Hedge funds and other investors are adopting an increasingly bullish stance on oil prices as Saudi Arabia and its OPEC allies continue to restrict production amid rising demand and the ongoing conflict in Gaza.
Rising stars in the hedge fund industry are now considering factors beyond financial compensation as they strategise their career paths, according to Ilana Weinstein, Founder and CEO of the IDW Group, which calls itself a “leading boutique for hedge fund managers”, who spoke recently on Bloomberg Television.
London-based macro hedge fund Rokos Capital Management saw a 12.5% gain in Q1 2024, with a 3.8% gain in March alone, benefiting from other macro traders’ wrong-way bets on the US Federal Reserve potentially lowering interest rates, according to a report by Bloomberg.
