Managers
Hedge fund trader Pierre Andurand believes global oil demand could surge by as much as 4% at some point next year if Covid restrictions around the world are lifted fully, according to a report by Bloomberg.
The report cites Twitter posts by Andurand, whose main commodities hedge fund is up by around 50% this year, as revealing that he believes consumption could rise by three to four million barrels a day in 2023, boosted by a switch from gas to oil.
Crude has saw an increase this month following moves by China, the world’s biggest oil importer, to relax its
Citadel, the hedge fund firm founded by billionaire investor Ken Griffin, is planning to return about $7 billion in profits to investors in the first week of the New Year after generating bumper returns in 2022, according to a report by Reuters.
Shares in Superdry have rebounded after the troubled UK-based fashion firm secured a new £80 million funding package backed by US activist hedge fund Elliott Advisors, according to a report by BusinessLive.
Fast-growing private equity firm Catalio Capital Management is to acquire HealthCor, a healthcare-focused equities hedge fund firm founded by veteran healthcare investors Art Chen and Joe Healey.
Activist hedge fund PrimeStone Capital has written to chemicals group Brenntag urging the €9 billion German firm to scrap its proposed merger with US rival Univar Solutions, according to a report by Reuters.
PrimeStone, which holds a 2% stake in Brenntag, believes the deal will be subject to a lengthy anti-trust battle which would wipe out any cost-cutting benefits, and wants the company to consider a range of other options to improve shareholder value including a potential break-up of the business.
The company’s share price lost around 10% on the day news of the proposed merger broke, falling to around
Activist hedge fund Blackwells Capital has filed a lawsuit against Global Net Lease Inc and Necessity Retail REIT Inc after being prevented from putting forward its own slate of board nominees for the real estate companies, according to a report by Reuters.
Big name quant hedge fund firms including AQR Capital Management, Man Group and Aspect Capital are on course for record annual returns this year on the back of the ongoing market turmoil that has caused big problems for traditional stock and bond managers, according to a report by Bloomberg.
The report cites an unnamed source as revealing that AQR’s Absolute Return Strategy is set for its best ever year haiving seen a 40.9% gain up to the end of November. Man’s $11.6 billion AHL Alpha, meanwhile is up 10.7% over the same period while Aspect’s Diversified fund has surged 37.9%
Hedge funds and other money mangers have sold petroleum for a fifth consecutive week, according to a report by Reuters, although the rate of selling has slowed somewhat with the equivalent of 15 million barrels in the six most important petroleum-related futures and options contracts having been offloaded in the week ending 13 December.
The report cites position records published by ICE Futures Europe and the US Commodity Futures Trading Commission as revealing that total sales by fund managers over the five weeks since 8 November, now total some 236 million barrels.
The most recent week, saw continued sales of
Ken Griffin, the billionaire founder of hedge fund Citadel, is suing the US Internal Revenue Service over a data breach that led to his confidential financial information being published by ProPublica, according to a report by Bloomberg.
Asia-based hedge funds are on course to chalk up their worst annual performance figures in 12 years, with long-short stock-picking funds having been caught out by volatility in China, according to a report by Reuters.
While Asia nmacro strategy funds, like their counterparts elsewhere in the world, have benefited from big global shifts in interest rates, the report cites a series of China factors that have proved problematic for other hedge funds including China unexpectedly loosening its rigid Covid-19 movement and testing controls, and. President Xi Jinping’s consolidation of power is another factor that has impacted the performance of equity
