Managers
Just a week after boosting their long bets on the Swiss franc, hedge fund have flipped to a bearish position on the currency amid speculation that the central bank is no longer supporting the currency with purchases and could be on the brink of lowering interests rates.
California-based hedge fund and activist shareholder Butler Hall Capital has issued an open letter to French skincare company L’Occitane, urging its board of directors to relist on a US exchange and reconsider the company’s valuation following news of Blackstone’s potential bid to acquire the business.
Hedge funds’ bets have switched from bearish to bullish after the US economy’s unexpected job surge in the first six weeks of 2024 boosted optimism for the dollar, which has climbed nearly 3% so far this year, according to a report by the Financial Times citing executives at Citibank, JPMorgan, Rabobank and State Street.
Hudson Bay Capital Management, a global multi-strategy investment firm headquartered in Greenwich, Connecticut, with $20bn in AUM, has appointed SS&C GlobeOp to provide fund administration services.
Short seller Muddy Waters Capital has placed bets against the shares of Canadian insurance company Fairfax Financial Holdings after releasing a report alleging that the company has consistently manipulated asset values.
Pershing Square Capital Management’s Bill Ackman exited his position in US home improvement retailer Lowe’s, after it generated a net $1.3bn profit for his fund’s investors, according to a report by Reuters.
Rob Furdak, Man Group’s CIO overseeing ESG assets, believes screening for environmental, social and governance risks is not “just to try to make the world a better place”, it also helps improve the “investment process” at the world’s largest listed hedge fund, according to a report by Bloomberg.
Aaron Weiner, a Managing Director at Coatue Management, the $40bn hedge fund founded by Philippe Laffont, will leave the firm at the end of the year to start his own hedge fund, according to a report by Bloomberg citing people with knowledge of the matter.
Pershing Square Founder Bill Ackman is set to launch a new US investment portfolio that will offer retail investors access to an investment strategy that mimics his existing hedge fund but with lower fees and faster access to capital, according to a report by Reuters.
Activist investor Blackwells Capital, a shareholder of The Walt Disney Company, has reaffirmed its support for the entertainment giant’s current CEO Bob Iger in a proxy statement filed with the US Securities and Exchange Commission.
