Managers
Tortoise, a London-based hedge fund manager that has out performed 99% of its long-short equity rivals so far this year, feels the time is right to be “sensibly contrarian” and has out demonstrated the courage of its convictions with a long bet on Facebook owner Meta Platforms Inc, according to a report by Bloomberg.
US activist hedge fund Elliott Management is set to refinance Superdry with a £70m funding package as a deadline for the clothing retailer to repay its current debts looms large, according to a report by the Sunday Times.
A group of activist hedge funds have been hit hard by a spectacular plunge in the stock price of online used-car dealer Caravana Co, according to a report by Bloomberg, with the company’s shares having fallen by 97% in the last year.
The report cites Bloomerg data as revealing that collectively the funds, including Spruce House Investment Management LLC, FPR Partners LLC, 683 Capital Management LLC, Point72 Asset Management LP and KPS Global Asset Management UK Ltd, collectively still own more than a quarter of the company’s shares.
With Carvana’s fortunes tumbling as used car prices have declined, the report
Online greetings card and gift retailer Moonpig’s shares may have already halved this year on the back of a slowdown in consumer spending, but some hedge funds believe the stock has farther to fall with short bets against the company now at record levels, according to a report by ThisIsMoney.
Citadel, the hedge fund firm founded by billionaire investor Kenneth Griffin, significantly increased its stake in two dividend-paying energy stocks during the third quarter of the year, according to a report by Investing.com.
The $50 billion hedge fund firm reportedly purchased over 2.4 million shares of Phillips 66 during the third quarter, increasing the fund’s stake by 195%. Citadel also owns roughly 10,377 in call options contracts and 24,501 put options contracts in the diversified energy manufacturing and logistics company, which has been in business for more than 140 years. During the third quarter, Phillips 66, which is offering a
Rokos Capital Management, the hedge fund firm founded by billionaire trader Chris Rokos, has warned that sterling is vulnerable to further falls in value, according to a report by the Financial Times.
And in a further gloomy prediction, the firm also believes that the UK’s recession could have a “serious” effect on British society.
The report cites a letter sent to investors in the $14.5 billion firm as saying that impact of Brexit, deglobalisation and the coronavirus pandemic had produced a bigger shock to UK trade than other developed countries.
The letter said: “The recession that is required to tame
Bill Ackman, the boss of US hedge fund Pershing Square Capital Management, believes that it is ‘only a matter of time’ before the Hong kong dollar’s peg to the US dollar breaks, according to a report by Fortune.
The semi-autonomous territory’s currency has been pegged to the Greenback for almost 40 years, trading within a narrow band of 7.75 and 7.85 Hong Kong dollars to the US dollar. But the fact that the Hong one government has been forced to intervene in the currency market 40 times so far this year to support the value of its currency has led
ION, a privately-held financial technology group, is in discussions with US hedge fund Davidson Kempner Capital Management over striking a staged-payments deal to acquire Italian bad loan recovery firm Prelios, according to a report by Reuters.
US Department store operator Kohl’s is on course for a new showdown with hedge fund investors including Macellum Capital Management LLC and Ancora Advisors after deciding against selling much of its real estate assets and then leasing them back, according to a report by Reuters.
Macellum and Ancora are among a group of hedge funds that are keen to see Kohl’s return money to shareholders via a real estate sale-leaseback deal and have launched challenges over the past two years that have seen three newcomers joining the company’s board.
The report cites Morningstar analysts as saying that with Kohl’s shares
Microsoft has replaced Amazon.com as the favourite long position for hedge funds, according to a report by Dow Jones Newswires, with Goldman Sachs analysis revealing that 82 funds now have Microsoft as a top ten portfolio holding.
