Managers
Barry Norris, the founder and chief investment officer of UK-based hedge fund firm Argonaut Capital Partners has labelled investments in the hydrogen sector as a “complete waste of time”, according to a report by Bloomberg.
A further 15.7% decline in August has left Said Haidar’s Jupiter macro hedge fund nursing a 48% loss for the year so far, and extended the fund’s worst ever period of trading since it debuted over 20 years ago, according to a report by Bloomberg.
ExodusPoint Capital Management, the hedge fund firm founded by Michael Gelband and Hyung Lee, is looking to raise $1bn in new money from investors by the end of the year having reopened to new capital from the first time in three years, according to a report by Bloomberg.
After several years as the top choice for many hedge fund investors, multi-strategy, multi-manager firms including Schonfeld Strategic Advisors, Balyasny Asset Management, and ExodusPoint Capital Management, are trailing the returns of other types of fund, according to a report by Bloomberg.
The current “higher for longer” interest rate environment has created attractive opportunities for credit hedge funds that focus on distressed debt, and boosted profits this year, according to a report by The Financial Times.
With an interest rate decision by the European Central Bank looming large this week, hedge funds have turned more negative on the euro, cutting their net long positions in the currency by nearly 90% in just one month, according to a report by the Business Times.
Fahad Ghaffar, a longtime business partner of John Paulson in Puerto Rico, has sued the hedge fund veteran alleging Paulson made fraudulent claims to convince him to invest $17m in a luxury car dealership on the island, according to a report by Bloomberg.
Former Millennium Management executive Bobby Jain is continuing preparations for what is expected to be one of the biggest hedge fund debuts in history by making a number of key appointments and securing office space around the world, according to a report by Bloomberg.
The US Federal Reserve’s apparent ‘higher-for-longer’ thinking on interest rates, coupled with rising Treasury yields, means that the current rally in the US dollar has further to go, making the greenback “too risky to short”, according to a report by Bloomberg.
The Financial Stability Board (FSB) has warned that some hedge funds now have “very high levels of synthetic leverage”, debt created by the use of derivatives or other financial instruments that frequently does not show up on balance sheets, according to a report by Reuters.
