Managers
Commodity trend advisers, that is hedge funds that use computer algorithms to trade equities inline with movements in stock prices, will soon begin offloading shares worth between $20bn and $30bn, according to a report by Reuters.
Multi-strategy major Millennium Management is in advanced talks over a partnership with smaller rival Schonfeld Strategic Advisors. The partnership would see Izzy Englander’s firm put billions of dollars to work with Steven Schonfeld’s computer-driven fund, according to a report by The Financial Times.
Hedge funds setting up operations in Abu Dhabi have contributed to a 12% uplift on an annual basis in the GDP of the emirate’s private, non-oil economy to expand to a quarterly record of AED154bn ($41.9bn), according to a report by Bloomberg.
Hedge funds are considering a number of Latin American countries as alternatives to investing in China on the back of ongoing geopolitical tensions and a slowing performance in the world’s second largest economy, according to a report by Reuters.
The investor group led by Saba Capital Management founder Boaz Weinstein looking to acquire Sculptor Capital Management, has again upped its offer for the hedge fund firm, prompting Rithm Capital Corp to consider improving its offer, according to a report by Bloomberg.
TS Imagine, a global, cross-asset provider of real-time trading, portfolio, and risk management solutions for financial institutions, has partnered with Cassini Systems to provide prime brokers and hedge funds with access to intelligent margin and collateral analytics available through TS Imagines’ product suite.
Ray Dalio, the founder of global macro hedge fund major Bridgewater Associates, is watching the “risky” fiscal situation in the US and believes the country could be heading for a debt crisis, according to a report by Reuters.
Dan Loeb’s Third Point is facing a flood of customer withdrawals after racking up losses of 1.6% so far this year on the back of a 21.8% decline in 2022, underperforming both rival firms and the wider market, according to a report by The Wall Street Journal.
Poor staff behaviour towards rival firms has prompted Chinese regulators to ban one of the country’s top quant funds – Shanghai Minghong Investment Management Co – from launching new investment products, according to a report by Bloomberg.
US hedge fund Gramercy has set a new record for the $16bn litigation funding market with the provision of a $552.5m loan to UK law firm Pogust Goodhead backing separate suits against miners BHP and Vale and 14 global carmakers in mass environmental claims.
