Managers
Elliott Investment Management’s long-running dispute with the South Korean government still has someway to go after Justice Minister Han Dong-hoon revealed a new law suit aimed at reversing a decision by an international tribunal to award the US hedge fund $108m in damages, according to a report by The Korea Herald.
The dispute centres on the controversial 2015 merger of two Samsung Group affiliates, Samsung C&T and Cheil Industries, which led to Elliott – a minority stakeholder in Samsung C&T – suing the Korean government in 2018 for pressuring a state-run pension scheme to vote in favour of the deal.
Rithm Capital Corp, a New York-based asset manager focused on the real estate and financial services industries, is to acquire $34bn hedge fund firm Sculptor Capital Management in a transaction valued at approximately $639m.
Man Group, the world’s largest listed hedge fund firm, has developed ManGPT, a new portal that allows anyone in the business to access OpenAI’s GPT model in a “safe and controlled fashion”, according to a report by Financial News.
The report cites Chief Technology Officer Gary Collier as saying that the firm is looking at leveraging artificial intelligence to assist with idea formation and information management and summarisation.
And while the use of artificial intelligence by Man Group and other hedge fund firms, pre-dates the advent of ChatGPT in December 2022, Collier, who has been with Man Group for more
Hedge funds are betting on July being the last in the US Federal Reserve’s current programme of aggressive rate hikes aimed at bringing inflation under control, and are moving back into the gold market as a result, according to a report by Kitco News.
Activist hedge fund TMR Capital is plotting a bid for The Restaurant Group in a move that would break up the FTSE 250-listed hospitality company behind Wagamama, according to a report by the Daily Telegraph.
The British Virgin Islands-based manager, which has built up a 1.75% stake in The Restaurant Group, is reportedly considering a bid for the company’s Brunning & Price pub division and its casual dining chains, which include Frankie & Benny’s and Chiquito.
The two divisions operate more than 100 sites across the UK, and a purchase would leave The Restaurant Group with just Wagamama and a
Man Numeric, the quantitative investment arm of Man Group, says macro themes and nation subsets are outdated, with ever-increasing volumes of data from emerging markets now seen as key to peer-beating returns instead, according to a report by Bloomberg.
Ori Ben-Akiva, director of portfolio management at Boston-based Man Numeric, says the firm’s core emerging market funds are largely ditching the traditional country-by-country approach when it comes to trading portfolios and building investment themes.
Instead, its strategies are now trawling social media accounts, e-commerce websites and other sources to inform choices from around 5,000 developing-nation companies.
The number of models the
The Canada Pension Plan Investment Board, Canada’s largest pension fund, will seed more startup hedge funds this year as part of a plan to diversify its investments, according to a report by the Financial Post.
The CPPIB, which manages $570 billion in assets, will spread funding among more firms as part of its emerging manager programme by reducing the starting amount they invest with each fund. Each will receive amounts starting from US$50 million, down from US$100 million, a person familiar with the matter said.
The move comes as startup hedge funds face an increasingly launch environment, with larger multi-strategy
The Alternative Investment Management Association and its private credit affiliate the Alternative Credit Council say the provisional political agreement reached on the EU’s Alternative Investment Fund Managers Directive (AIFMD) Review provides regulatory stability for alternative investment industry.
TOP STORY: Hedge funds are dumping short positions at their fastest pace since January as returns continue to lag the MSCI and bets on a recession continue to falter, according to a report by Reuters.
GROW Investment Group, a China-based investment firm backed by Julius Baer Group and Navigator Global Investments, is looking to raise $50 million to buy stakes in domestic hedge fund managers.
