Managers
Short selling specialist Hindenburg Research has revealed it has taken out a wager against Carl Icahn’s Icahn Enterprises (IEP) after alleging that the business has inflated the value of its investments and is running a “Ponzi-like economic structure” structure, according to a report by the New York Post.
Short selling specialist Hindenburg Research has revealed it has taken out a wager against Carl Icahn’s Icahn Enterprises after alleging that the business has inflated the value of its investments and is running a “Ponzi-like economic structure”, according to a report by the New York Post.
Global hedge funds’ upped their bearish positions in US stocks to their highest levels so far this year in April, with companies selling non-essential consumer products becoming the main focus of their attention in a sign that a slowdown in consumer spending is expected, according to a report by Reuters.
The report cites a Goldman Sachs note as revealing that hedge funds trading the stocks of US consumer discretionary companies offering flat-screen TVs and family vacations saw the largest notional net selling since October 2022. Bets on their stock prices falling outpaced bullish positions by almost two-to-one, according to Goldman.
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Several prominent hedge funds are making bets on Covid-19 business-interruption claims – the most prominent being a roughly $2 billion pandemic-related claim by Caesars Entertainment – despite a string of losses in state and federal courts, according to a report by the Wall Street Journal.
The report cites anonymous sources as revealing that distressed debt specialist Avenue Capital Group has paid roughly 10 cents on the dollar for a $330 million share of the claim filed by the casino and hotel owner in 2021 against a group of insurers including Allianz SE, Chubb Ltd, Markel Corp subsidiaries, and Aspen Insurance
Brevan Howard Asset Management has pulled the plug on its relationship with US hedge fund firm Commonwealth Asset Management after a $1 billion separately managed account it advised on suffered losses last month, according to a report by Bloomberg.
Several big-name hedge fund hedge fund firms, including Crispin Odey’s Odey Asset Management and James Hanbury’s Brook Asset Management have racked up big losses on the back of a 16% rally in the Nasdaq Composite so far this year, according to a report by the Financial Review.
A period of political calm, coupled with unexpectedly strong returns, has had hedge funds rushing to unwind their short positions in Italian government bonds in recent weeks as they look to cut their losses on bets against the heavily indebted country, according to a report by The Financial Times.
Hedge fund Corvex Management has become the latest activist investor to push for changes at Algonquin Power & Utilities Corp, having amassed a sizeable stake in the Canadian power company, according to a report by Reuters.
Having correctly predicted in February that the rally in emerging markets between October and February would soon reverse, Man Group, the world’s largest listed hedge fund, says risky assets will see even bigger losses later this year, according to a report by Bloomberg.
Dubai is on the way to becoming a global hedge fun hub with more than 60 firms said to be currently in discussions to establish a presence in the city’s Dubai International Finance Centre (DIFC), according to a new report produced by the DIFC and Refinitiv.
