Managers
Third Point, the hedge fund run by Daniel Loeb, has disclosed a $1 billion stake in Disney and is pushing for a spin-off of the entertainment giant’s sports network ESPN, according to a report by Reuters.
Third Point also wants Disney to embark on a raft of other initiatives including implementing a share buy-back programme and appointing additional board members.
Shares in Disney jumped by as much as 2% when news of Third Point’s stake – which equates to about 0.4% of the business – emerged on Monday.
Loeb had previously exited a position in Disney during the market sell-off
Steve Cohen, the billionaire behind hedge fund boss of Point72 Asset Management, is planning to set up a crypto-specific asset manager, according to a report by Blockworks.
The report cites unnamed sources as revealing that planning for the new entity is in the ‘early stages’ but that it will trade spot cryptocurrencies, offer crypto derivatives, and provide capital to external crypto-focused hedge funds.
Cohen, who first started trading cryptocurrencies and digital assets in 2018, has been involved personally in establishing the new asset manager, with high levels of financial backing required to cover initial operational expenses and the hiring of
Hedge funds led a charge by professional investors to unwind bearish wagers and snap up stocks this week, as the S&P 500 saw a 2% gain on Wednesday, according to a report by Bloomberg.
The New York Times (NYT) is coming under pressure from ValueAct Capital, an activist hedge fund holding a 7 per cent stake in the business, to increase digital sales by steering subscribers towards premium packages of its products, according to report by Financial Review
The global news media group’s shares jumped 10 per cent after news broke that ValueAct Capital had written a letter urging the business to explore ways to boost profitability.
In the letter ValueAct claims that many of the NYT’s current 6.1 million core subscribers would pay substantially more for a premium package of products and services
Voce Capital, an activist hedge fund run by J Daniel Plants, has been granted a seat on the board at Argo Group International Holdings, according to a report by Reuters.
Voce Capital is the largest shareholder in Argo Group which underwrites specialty insurance products in the property and casualty market. Plants’ appointment takes the number of board members to nine with the new appointee set to serve on the strategic review and human resources committees.
Plants appointments comes just a few months after Argo Group announced a strategic review of its operations, including a potemtial sale of the business.
Proteus has been selected to complement Andersen Capital Managements SMA platform with a technology-enabled, private fund platform supporting the launch of Andersen’s new Weather Mark Long/Short investment strategy.
alternative investment strategy. Andersen will take advantage of Proteus’ best-in-class technology, operational rigor, and related infrastructure to seamlessly offer their investment strategies to Accredited and Qualified clientele.
Proteus is structuring a bespoke master-feeder solution that will allow Andersen to aggregate accredited and qualified clients for the new fund, which employs the same stock picking process that Andersen has used since 2010. The strategy is now generalised to permit shorting stocks that have
Ray Dalio’s Bridgewater Pure Alpha is one of a group of macro hedge funds which are taking full advantage of headline-grabbing inflation rates to generate big returns, according to a report by the Financial Times.
Pure Alpha has chalked up a 21.5% gain in the first seven months of the year as elevated global inflation rates have brought some of their favourite bond and commodity markets traders back into play.
The yield on the two-year Treasury bond for instance has umped 0-7% to 3.1% as central banks attempt to curb consumer price growth. The report also highlights the near continuous
Hedge fund giant Bridgewater Associates has registered several trademarks in both English and Chinese to address the ‘confusion’ created by Chinese managers imitating the firm’s ‘All Weather’ multi-asset strategy, according to a report by Reuters.
SoftBank Group Corp”s Vision Fund unit has posted a Q2 loss of $17 billion (JPY2.33 trillion) on the back of a steep decline in the value of its portfolio of tech stocks, according to a report by Al Ja Zeera.
In May, Vision Fund posted a record loss as rising interest rates and global political uncertainty caused high levels of market volatility in the tech sector, resulting in a group Q2 loss of $23.4 billion. That compares with a profit of $563.75 million in the same period a year earlier.
Falling listed investments in the last quarter include robotics firm
Brevan Howard Asset Management’s BH Digital division has raised over $1 billion in assets for investment in cryptocurrencies and digital assets, according to a report by The Times Hub.
The report cites unnamed sources as saying that the Brevan Howard Digital Asset Multi-Strategy Fund’s performance has been “incredible” since launching at the beginning of the year. The fund, which is down between 4-5%, uses algorithmic trading and relative value trades with 10% of assets allocated to venture investments and the remaining 90% to cryptocurrencies.
BH Digital is planning a $1.5 billion AUM target for the which Brevan Howard Digital Asset
