Managers
Jennison Associates, a low-profile hedge fund with offices in New York and Boston, has potentially scored a $5 billion gain on Nvidia so far this year, as the chip-maker’s stock has soared, according to a report by Markets Insider.
Hedge funds are making wagers against copper on the London Metal Exchange for the first in three years after prices tumbled following weaker than expected demand from the world’s top consumer, China, according to a report by mining.com.
Chinese quant hedge fund Shanghai Ruitian Investment has been ordered to pay damages of RMB3.5 million ($495,000) to its former head of high-frequency trading strategy, Yang Yunhao, after losing a court case over his move to Zhejiang High-Flyer Asset Management.Â
Rising interest rates, which have made it cheaper for speculators to borrow stock and bet on movements in company stock prices, have seen hedge fund industry borrowing hit record highs, according to a report by Reuters.
Concerns over the accuracy of the Perion Network’s financial reporting have prompted New York-based hedge fund Spruce Point Capital to establish a new short position in the Israel-based advertising technology firm, according to a report by Reuters.
The report cites Spruce Point Capital as saying that given its “extreme dependency” on a Microsoft Corp search partnership that is due to come to an end next year, Perion’s shares could fall by as much as 40% in the long-term.
News of Spruce Point’s new bet against the business saw Perion’s stock price fall to a near four-month low before recovering some
New York-based hedge fund firm Hunting Hill Global Capital, a specialist in global arbitrage investments with $364 million in assets under management, has launched a new crypto and digital asset-focused affiliate, Hunting Hill Digital, with the backing of early-stage VC investor BaseLayer ventures.
In preparation for an anticipated end to the US Federal Reserve’s programme of interest rate hikes, hedge funds are going long on short-term interest-rate futures tied to the Secured Overnight Financing Rate, according to a report by Bloomberg.
Long-short equity hedge fund manager Peconic Partners has reclaimed the number one spot on HedgeFollow’s Top 20 Best Performing Hedge Funds list, with a three-year performance figure of +191.50%, according to the latest rankings from the hedge fund tracker.
Peconic, which, according to Preiqn was founded by William Harnisch in 1986, currently manages $1.1 billion in two hedge fund strategies – a long-short equities fund and an insurance linked vehicle.
In compiling the Top 20 Best Performing Hedge Funds list, HedgeFollow tracks regulatory filings of over 10,000 institutional investors to independently identify top-performing funds across multiple strategies.
Hedge fund Standard General has terminated its acquisition agreement with US TV station operator Tegna, which manages 64 TV stations in 51 US markets, after failing to overcome a number of regulatory hurdles, according to a report by Reuters.
BlueCrest Capital Management, the private investment firm led by Mike Platt – the UK’s wealthiest hedge fund manager, according to the latest Sunday Times Rich List – is partnering with fintech Arcesium to support its post-trade operations and middle- and back-office workflows.
BlueCrest has begun implementing Arcesium’s fully integrated cloud-based technology platform which, once deployed, will support the firm’s operational teams.
As part of the tie-up, BlueCrest will also look to take advantage of Arcesium’s global Financial Operations capabilities to augment its in-house operations and technology team.
