Hong Kong-based hedge fund Oasis Management Company is urging fellow shareholders to vote against chief executive Andy Hornby’s “disproportionate” and “unpalatable” pay deal after almost doubling its stake in the company, according to a report by The Times. The activist investment firm, which has upped its holding in the Wagamama and Frankie & Benny’s operator from 6.5 per cent to 12.3 per cent, believes Hornby has failed to generate value creation during his tenure and has contributed to a 73% fall in the company’s share price. Hornby has been awarded a 2.5% pay increase to £674,450 for this year following

Struggling online retailer Asos has attracted the attention of renowned short-seller Matthew Earl – aka the Dark Destroyer – the founder of London-based hedge fund ShadowFall, who believes that the company will need to raise more cash from shareholders as it struggles to adapt to post-pandemic life, according to a report by The Sunday Times. Earl’s ShadowFall has reportedly built a short position in Asos worth about £4 million. The report cites data from S&P Global Market Intelligence as revealing that Asos is currently the second most shorted stock in the FTSE 250, with 10.98 per cent of its outstanding

Helikon Investments, a London-based long-short equity hedge fund founded in 2019, upped its stake in Argentinian energy company YPF Sociedad Anónima by 22.4% during the fourth quarter of 2022, according to a report by BestStocks.  The report cites an SEC regulatory filing as revealing that the fund’s ownership jumped to 7,945,939 shares after the acquisition of an additional 1,452,472 shares, bringing its holding to 2.02% of YPF Sociedad Anónima’s shares – Helikon’s fourth largest holding. Hedge funds currently own approximately 10.42% of YPF Sociedad Anónima’s stock. Other institutional investors with holdings include Credit Suisse AG (272,941 shares), while Harel Insurance

Hedge funds and other leveraged investors upped their net short positions on 10-year US Treasury futures to a record 1.29 million contracts as of 18 April, in an apparent show of confidence that the US economy can avoid a recession, according to a report by Bloomberg. The report cites data from the US Commodity Futures Trading Commission (CFTC) as confirming that net shorts had increased for a fifth consecutive week. Hedge funds seem to be backing the US central bank to win out in its desire to see further increases in borrowing costs. The 10-year Treasury yield has advanced nine

Hong Kong-based hedge fund BFAM Partners, an investment vehicle of US hedge fund Davidson Kempner, and other investors, have filed a lawsuit in New York seeking $201 million in debt repayment from Chinese property developer Glory Health, according to a report by Reuters. The report cites a court filing dated 14 April as revealing that the group claim they are owed $141.4 million in principal, $9.4 million in premiums, and $50.4 million in interest. According to the filing, Glory Health issued offshore bonds worth $334.8 million with 14.25% annual interest in February 2022, and promised to redeem at least $9.6

Activist hedge fund Engine Capital, which has been agitating for a shakeup at US convenience store and fuel station owner Parkland Corp, is to oppose the re-election of the company’s board members, according to a report by the Globe and Mail. The report cites a letter sent by the New York-based firm to Parkland on Thursday as revealing that it wants to see the company either broken up or privatised, having had its requests to meet with directors rebuffed. Engine Capital owns roughly 2 per cent of the shares of Parkland which owns thousands of convenience stores and gasoline stations