Managers
Despite the US dollar having jumped by nearly 20 per cent so far this year, hedge funds still think there’s more to come from the greenback as the US Federal Reserve ,looks to curb inflation with tighter monetary policy, according to a report by The Financial Times.
The report cites data from the US Commodity Futures Trading Commission as US dollar advancing against the Canadian dollar, Japanese yen and euro than they are on it falling. Brevan Howard, one of the world’s biggest macro funds, is among the firms that have been betting on dollar strength, according to a recent
Ray Dalio, the hedge fund veteran who recently handed over control of Bridgewater Associates – one of the world’s biggest hedge funds – to a “new generation” of investors, believes a ‘perfect storm’ is brewing for the economy, according to a report by Reuters.
Dalio remains a “meaningful owner” of the firm and has forecast ‘real’ economic pain as the US Federal Reserve battles to control inflation.
Speaking at the Greenwich Economic Forum this week, Dalio said
he expects the US economy to take a “giant lurch backward”. And the trigger could be interest rates hitting 4.5%.
“I don’t know
A new hedge fund to be launched next year by DE Shaw and Point72 Asset Management alumni has secured multi-billion dollar backing from Millennium Management, according to a report by Bloomberg.
The report quotes unnamed sources as revealing that the as-yet unnamed firm is being set up by Andrew Komery, who was a managing director in DE Shaw’s fundamental equities group until early this year, and Alex Chacon, who most recently served as an analyst at Steve Cohen’s Point72.
As well as running its own hedge fund business, Millennium also sometimes invests alongside traders running or setting up independent firms,
Betting on big-picture macroeconomic changes has helped some hedge funds navigate – and outperform – China’s rocky stock markets so far this year, according to a report by Reuters.
YTD ‘winners’ include Stanley Tao’s $230 million Golden Nest Greater China Fund which is down 1.2% for the first nine months of the year, having posted a 2.4% gain in September. The MSCI China index meanwhile, is down roughly 30% for the first three quarters of the year, its worst first nine months since 2008, while the Shanghai Composite Index lost 16% during the same period, losing 5.5% in September alone.
A group of investors including Davidson Kempner Capital Management, is hoping to persuade Schneider Electric SE to increase its £31 per share takeover offer for UK industrial software company Aveva Group Plc, according to a report by Bloomberg.
The report cites unnamed sources as revealing that the merger arbitrage firm has built a holding of 3.5% in Avela and along with other minority investors is seeking an improved offer from Schneider Electric of up to £35 per share. Davidon Kempner is reportedly continuing to acquire Avela stock.
Schneider, which already holds about 59.1 per cent of Avela, first made an
Barry Norris the founder of London-based specialist equity fund management company Argonaut Capital, wants all new wind and solar power projects in the UK to be put on hold because of a lack of reliability in the amount of energy they can generate.
Norris, whose firm manages with long and short and long-only funds, has written to Jacob Rees-Mogg, Secretary of State for Business, Energy, and Industrial Strategy calling for a pause “pending an official enquiry into intermittency and our ability to usefully store excess energy generation on windy and sunny days”.
In the letter Norris points out that on
Millennium Management, the $58 billion hedge fund firm founded by Izzy Englander, has completed its plan to lock up client capital for longer by returning ing an additional $15 billion to investors, according to a report by Bloomberg.
The report cites unnamed sources as confirming that the money is from a share class that can be redeemed in full over a year. The same amino was returned to investors last year as part of a lock-up plan that has been running since 2018.
Investors can now choose to re-invest their funds in an alternative share class that only allows withdrawals
Man Group has extended it’s funding for the the Oxford-Man Institute of Quantitative Finance (OMI), a centre for interdisciplinary research in financial markets established in conjunction with Oxford University, for a further five years until at least 2027.
This extension takes Man Group’s commitment to 20 years of continuous funding and underscores the firm’s commitment to machine learning research in quantitative finance.
The OMI opened in 2007, bringing together leading quantitative finance academics and research students alongside Man Group researchers based in the co-located Man Research Laboratory (MRL). The dual academic-commercial environment provided by the OMI and MRL was
Ongoing market turmoil helped Citadel’s flagship hedge fund chalk up a 2.5% gain in September, taking year-to performance to 29%, according to a report by Bloomberg, with the firm’s three other hedge funds all generating double-digit returns too.
Ray Dalio, the billionaire investor who built Bridgewater Associates into one of the world’s biggest hedge funds, is stepping down as co-chief investment officer of the $150 billion firm, according to a report by Bloomberg. Dalio has handed over control of Bridgewater, to a new generation of investors, as the final part of a succession plan.
Dalio has transferred his majority stake to the firm’s board but remains a “meaningful” owner of the fund. His job title has changed from co-chief investment officer, to chief investment officer mentor.
The 73-year-old billionaire investor, who stepped down as Bridgewater’s CEO in 2017 and
