Managers
Citadel, the hedge fund firm founded by Ken Griffin, is betting against Deliveroo and has opened up a £27 million short wager against the food delivery company, according to a report by The Daily Telegraph.
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
Tom Wagner, co-founder of hedge fund Knighthood Capital Management, is closing in on the acquisition of a stake in English Football League club Birmingham City FC, according to a report by Bloomberg.
Minal Bathwal was a stand-out performer at Brevan Howard in March, making money as market turmoil saw the macro trading firm’s flagship fund rack up its largest monthly loss since 2003, according to a report by Bloomberg.
China-based hedge funds Shanghai Bull Asset Management and Shanghai Silver Leaf Investment Co have both booked big returns by exiting lucrative trades on the country’s property bonds, according to a report by Bloomberg.
Hedge funds have increased their bets against TD Bank Group with short positions against the Canadian lender rising by 45% over the past two weeks to reach $6.1 billion on Wednesday, according to a report by Reuters.
The report cites calculations by data provider ORTEX, as revealing that around 5.5% of TD’s outstanding shares are out on loan to hedge funds betting against the company, while the second-most shorted bank stock, Bank of America, only has $2.9 billion, or 1.2%, worth of short bets.
Analysts are attributing the increase to TD’s planned acquisition of US lender First Horizon, which has
Shanghai Qianxiang Asset Management, a quant hedge fund based in mainland China, is among a number of funds setting up shop in Hong Kong for the first time in a bid to satisfy Chinese investor demand for US dollar-based products and international exposure, according to a report by Reuters.
The ‘fund-flight’ to Hong Kong first began last year following the ending of years of Covid lockdowns with at least eight mainland-based funds having set up operations in Hong Kong in the past six months, according to Reuetrs, and more than 10 others reportedly planning to follow suit.
Shanghai Qianxiang Asset
Hedge fund majors Millennium Management and DE Shaw are both actively hiring technologists in India with a focus on data scientists and data engineers as they ramp up operations in the country, according to a report by ET CIO.
New York-based Millennium, which has over $58 billion in AUM, reportedly has 30 roles open in Bengaluru for technologist, including data engineers, to work in the firm’s fixed income and commodities team.
DE Shaw meanwhile, which manages more than $60 billion in assets, and has recently opened new offices in Bengaluru and Gurugram housing over 300 employees, is also looking for
