Managers
Hedge funds are rebuilding their short positions in US equities amid worsening economic data and corporate earnings, according to a report by Bloomberg.
Short sellers are now the most bearish they have been on US markets since November 2011, following the downgrade of the US’s sovereign credit rating.
Large speculators, mostly hedge funds, grew their net short positions in S&P 500 e-mini futures to roughly 321,000 contracts as of Tuesday, data from the Commodity Futures Trading Commission shows. Data from JPMorgan Chase & Co.’s prime broker unit showed a similar pattern, with the firm’s hedge fund clients last week raising
Global macro hedge fund firm Rokos Capital Management has reported double digit losses for March as big market swings during the month, triggered by the banking crisis, hurt some, but not all, hedge fund returns, according to a report by Reuters.
A late month market rally helped equities strategies to small gains, according to investors and industry data.
An unnamed Reuters source familiar with the matter revealed that London-based Rokos ended the month down roughly 15%, taking year to date losses to nearly 9.5%, a sharp contrast to last year’s 51% gain.
Other big-name funds fared better last month including
Hedge fund Hestia Capital Management is pressing for a change of chief executive officer at shipping services company Pitney Bowes, ahead of a strategic review of the company’s e-commerce business, according to a report by the Wall Street Journal.
The activist investor, which is the third largest shareholder in Pitney Bowes with an 8.4% stake, has nominated Lance Rosenzweig to replace Marc Lautenbach, who has served as president and CEO at the firm since December 2012.
Hestia nominated a slate of seven executives for election to the Pitney Bowes board at the company’s AGM earlier in the year, and has
TOP STORY: Hedge fund Farallon Capital Management is planning to launch a proxy fight at biotech Exelixis Inc with the nomination of three directors to the board of the cancer drug maker, according to a report by The Wall Street Journal.
GMO Financial Holdings, an investment firm focused on crypto and foreign-exchange margin trading businesses, has acquired a 10% stake in multi-strategy crypto hedge fund AWR Capital for an undisclosed sum, according to a report by CoinDesk.
As part of the deal, London-based AWR will become a market maker at GMO Financial Holdings subsidiary GMO Coin, one of Japan’s largest FX and digital-assets exchanges.
In addition, AWR has appointed Phillip Gillespie as managing partner to lead its business development strategy and expand the fund’s operations. Gillespie is an algorithmic trading veteran and former CEO of crypto market maker B2C2.
Hedge fund manager confidence for the coming year was up slightly at the end of Q1 2023, according to AIMA’s 10th quarterly Hedge Fund Confidence Index, produced in partnership with Simmons & Simmons and Seward and Kissel.
As some categories of alternative data mature and become standardised in the investment research process, new research from fintech Exabel with active investment managers and analysts reveals that 76% believe consumer spending data will provide an ‘outsized’ information edge in the near future.
This is followed by 65% who cited web, mobile and app usage data, and 58% who said employment and people moves data.
When it comes to which class of investors or types of investment strategies are seen as the most progressive or sophisticated in their adoption of alternative data, 66% of those surveyed said fundamental-focused funds/strategies, followed
The TCW Group, a global asset management firm, has entered into a strategic partnership with Lakemore Partners Ltd. and its group entities, a private credit investment firm primarily investing in super-majority control collateralised loan obligation equity.
Activist investor ValueAct Capital is pushing Japanese retail group Seven & i Holdings to either spin off its 7-Eleven convenience store chain or consider selling the company in its entirety, according to a report by Reuters.
China-focused hedge-fund firm Snow Lake Capital Ltd has closed its office in Hong Kong after 12 years of operating in the city, according to a report by Bloomberg, citing unnamed sources familiar with the matter.
