Managers
London-based hedge fund Cirera Capital is liquidating with co-founder Ahmet Arinc, the former head of forex at Deutsche Bank, set to join multi-strategy firm ExodusPoint Capital Management, according to a report by Bloomberg.
The report cites an investor document as revealing that Arinc, with Cirera Capital co-founder Tijen Gumusdis managed about $500 million at the emerging-markets-focused macro hedge fund, having grown their capital from just $17 million at the fund’s inception.
In a letter to investors in August, the pair highlighted rising cost pressures as the reason for their decision to shutter Cirera Capital and continue managing assets “under a
Hedge funds and traders see the wild swings seen in British markets in the past couple of days as having provided an “opportunity of a lifetime” for currency and bond trading, according to a report by Reuters.
The market turmoil was sparked by Friday’s ‘mini-budget’ announcement of £45 billion of unfunded tax cuts with sterling subsequently losing 6 per cent of its value and UK government bond prices soaring. The Bank of England stepped in on Wednesday to try and shore up the markets by announcing a plan to buy £65 billion of UK bonds by 14 October.
The report
Crispin Odey, the founder of hedge fund Odey Asset Management and well-known donor to the Conservative party, believes it’s too early to get bullish on sterling despite the fund plugging to a record low against the dally following Chancellor Kwasi Kwarteng’s ‘mini budget’ announcement, according to a report by MarketWatch.
The Bank of England (BoE) is in “La La Land” Edouard De Langlade, the founder of EDL Capital said in an interview on Monday and will be forced to act sooner rather than later to stabilise the UK’s currency and bond markets, according to a report by Bloomberg.
Bets against sterling saw their biggest two-week rise since 2013 in the first half of a September, a sign that hedge funds and other leveraged funds upped their short position as Liz Truss took up her new role as Britain’s Prime Minister, according to a report by Reuters.
The report cites Vanda Research, which uses data from the US Commodity Futures Trading Commission (CFTC), as revealing that the number of GBP/USD short contracts jumped by 17 percent in the first two weeks of September.
Sterling plunged to a record low against the dollar on Monday of this week, and British
Data from the London Stock Exchange has revealed that 8.68 per cent of fast fashion company Boohoo’s shares are now out in short trades, according to a report by Business Post.
A post-pandemic slump in online trading, coupled with ESG issues, including labour conditions among Boohoo’s suppliers, have prompted some investors to dump the company’s stock. A number of large hedge funds meanwhile have reportedly ramped up their bets against Boohoo which is run by Irish chief executive John Lyttle.
Data supplied by Bowmore Asset Management indicates that 215 major short positions have been taken out against Boohoo in the
Storebrand Asset Management, a specialist in sustainable investments, has adopted Bloomberg’s cloud-based data science research platform, BQuant Enterprise, enabling multiple desks across the business, including fixed income, ESG and equities to create, test and further integrate actionable data/models into their front-office workflows.
Storebrand Asset Management has deployed BQuant Enterprise to get to market quickly with unique models for credit factor construction, equity strategy research, and portfolio construction, delivering the breadth of Bloomberg data, services, and toolboxes at their users’ fingertips.
Additionally, BQuant Enterprise is deployed for several ESG-focused functions. The BQuant Platform allows Storebrand Asset Management to further integrate
Millennium, the hedge fund firm founded by billionaire investor Izzy Englander, has appointed Olga Naumovich to the newly-created position of head of technology for Miami as it looks to build out its tech team in Florida, according to a report by Reuters.
The $57 billion multi-strategy hedge fund is currently looking to fill 25 technology roles in Miami, with Naumovich, a 23-year Goldman Sachs veteran who joins the firm from crypto market maker GSR Markets, tasked with leading the recruitment drive. According to Millennium’s website, open positions include front-end and software engineers and senior developers.
Naumovich’s focus will be to
Jana Partners has acquired a stake of almost 10 per cent in pet food company Freshpet and has plans for a raft of changes at the business designed to increases it stock price ahead of a potential sale, according to a report by MarketWatch.
The report cites unnamed sources as saying that the activist hedge fund believes tha with larger operators in the sector having shown an appetite for deals in recent years, Freshpet could be seen as an attractive takeover target. Jana Partners also wants the company to look at a raft of other changes including operational and capital-allocation
New York-based hedge fund giant DE Shaw & Co is to release its Midtown headquarters to the far west side of Manhattan having signed a lease for 283,000 sq ft (26,292 sq m) at Two Manhattan West, according to a report by Bloomberg.
The report cites a statement by the quant trading pioneer, which is currently based at 1166 Avenue of the Americas, as confirming that it will occupy eight floors of the new skyscraper from 2024.
The building, which is owned by Brookfield Properties and is expected to be completed in early 2023, is now 76% leased having already
