Managers
Heavy losses have prompted Dantai Capital to shut down its flagship hedge fund, the Greater China-focused Dantai Master Fund, after the firm concluded the investment strategy no longer works in the current market environment, according to a report by Bloomberg.
Greg Jensen, Co-Chief Investment officer at the world’s biggest hedge fund Bridgewater Associates, has warned against the use of large language models (LLMs) like ChatGPT to trade equities, despite being an early investor in its creator OpenAI as well as AI startup Anthropic, according to Bloomberg.
The average confidence of hedge fund mangers in the economic prospects of their businesses over the coming 12 months fell slightly in the second quarter of the year to +14.2, from +16.3 in Q1, according to the latest AIMA Hedge Fund Confidence Index.
The number of investor activist campaigns has steadily increased month-on-month since January, bucking the trend of previous years and indicating that momentum for activism is building, according to professional services firm Alvarez & Marsal’s latest A&M Activist Alert.
Embattled hedge fund firm Odey Asset Management has written to investors saying it is planning to lift the suspension of investment withdrawals from its Brook Developed Markets Fund, according to a report by Reuters.
Despite recent signs that sterling’s strong rally so far this year is flagging, hedge funds and other currency speculators have upped their bullish bet on the pound to the highest level in nine years, according to a report by the Financial Times.
With global economic growth continuing to slow and production cuts from Saudi Arabia and its OPEC⁺ allies having failed to lift prices, hedge funds and other investors have turned exceptionally bearish in their sentiment towards crude oil, according to a report by Reuters.
The equivalent of 64 million barrels in the six most important petroleum-related futures and options contracts were reportedly sold by investors in the seven days ending 27 June, with the sales concentrated in crude contracts split evenly between Brent (-31 million barrels) and NYMEX and ICE WTI (-33 million barrels).
The net position across the three major
The prospect of the US Federal Reserve ending its programme of interest rate hikes aimed at tackling inflation, now has a number of hedge fund poised to exit their bullish bets on the dollar, according to a report by Bloomberg.
Odey Asset Management is in talks with Green Ash Partners over the transfer of a special situations fund run by portfolio manager Adrian Courtenay, as the firm continues to reorganise after sexual assault allegations against founder Crispin Odey, according to a report by Reuters.
The report cites an investor letter seen by Reuters as confirming that while discussions are at an advanced stage, any transfer of the $83 million fund remains subject to due diligence as well as board and regulatory approvals.
The discussions follow earlier moves by the London-based hedge fund firm to rehouse its funds managed by
Barclays has become the latest financial firm to look to sever ties with Odey Asset Management with the bank seeking to end its corporate banking relationship with the London-based hedge fund firm following sexual assault allegations against founder Crispin Odey, according to a report by the Financial Times.
