Managers
Brazil’s hedge fund industry suffered its weakest monthly performance in six years in March, as a sharp repricing in global interest rates – driven by surging energy prices – unravelled widely held macro positions across local managers, according to a report by Bloomberg.
Activist investor Shah Capital has announced its intention to vote against the re-election of Novavax’s board members and its executive compensation plan at the biotech’s forthcoming annual meeting, escalating pressure on the vaccine maker for strategic changes, according to a. Report by Reuters.
The dispersion trade, a popular options strategy that profits from differences between individual stock volatility and index volatility, posted its worst monthly performance since 2011 in March, according to a report by Bloomberg.
Hedge funds are rapidly closing short positions in US equities at a pace not seen since the market rebound following the March 2020 pandemic crash, according to a report by Reuters citing data from Goldman Sachs.
Hedge funds are increasingly using currency options to bet on gains in the South Korean won and Chinese yuan following news of a US-Iran ceasefire, which has lifted risk sentiment and pushed oil prices lower, according to a report by Bloomberg.
Dovehouse Capital, founded by Danish entrepreneurs Claus Gotthard and Martin Rasmussen, is set to become what the team calls Abu Dhabi’s first locally established hedge fund, and it has big AUM expectations, according to a report by Spear’s.
The International Monetary Fund has warned that emerging markets (EMs) are increasingly exposed to volatile, non-bank sources of capital, such as hedge funds, making them more sensitive to global shocks like the ongoing Iran conflict, according to a report by the Financial Times.
Macro-focused hedge funds suffered heavy losses in March as escalating conflict in the Middle East disrupted energy markets and upended inflation and interest rate expectations, according to a report by Bloomberg citing industry sources.
Hedge funds have sharply increased their short positions on European equities, reflecting concerns over the economic impact of the ongoing war in Iran, according to a report by the Financial Times citing data from Breakout Point.
Qube Research & Technologies is expanding its US footprint with a new office at BMO Tower, leasing just over 29,000 square feet on the building’s 39th floor, according to a report by The Real Deal. The space will become the firm’s third US location, joining offices in New York and Houston.
