Managers
With EU sanctions on Russian exports likely to lead to an increase in oil shortages, hedge fund investors have turned significantly more bullish on crude prices, according to a report by The Financial Post.
Hedge funds and other money managers purchased
The equivalent of 56 million barrels of the six primary petroleum-related futures and options were purchased by hedge funds and other money managers in the wedge ended 17 May.
The reports says that records published by ICE Futures Europe and the US CFTC reveal that funds the sending spree has seen funds purchase petroleum at the fastest rate for
US hedge fund managers are paying increased attention to the incorporation of environmental, social and governance factors in their strategies according to a report by Pensions & Investments.
Investor demand though, remains below that seen in Europe.
The reports quotes ‘sources’ as saying that while the inclusion of one or more ESG factors or the creation of dedicated ESG fund has been the norm for some managers for several years, others are still are ‘evaluating’ ESG incorporation.
Anatole Investment Management Ltd’s flagship hedge fund has changed tack and adopted a more defensive investment stance in a bid to stem recent losses, according to a report by Bloomberg.
AXA Investment Managers (AXA IM) is to create AXA IM PRIvate Markets Enabler (AXA IM Prime), a business unit which would host the Private Markets Fund of Fund business that the groups investment teams have built since 2013 together with AXA IM Alts.
AXA IM Prime would gather indirect alternative investment expertise such as Primary and Secondary Private Equity and Infrastructure, General Partnership (GP) minority stakes, Private debt, Fund of Hedge Fund, Fund financing and Co-investments which would complement AXA IM’s current offer. For these activities, assets under management stand at c€20 billion as at end 2021, 12 of which
Turmoil in China’s stock markets could worsen significantly if portfolio losses force hedge funds to dump shares, according to a report by Bloomberg.
Bloomberg cites a report by China Merchants Securities Co which quotes an ‘industry data provider’ as revealing that last month approximately 2,350 stock-related hedge funds dropped below a threshold that typically activates clauses forcing them to reduce their exposures with many said to be close to a level that would force them to liquidate their holdings.
Though unusual in other markets, such rules are common in China having been introduced to protect investors from big losses.
Melvin Capital Management, the hedge fund that lost billions of dollars during last year’s meme-stock rally, has told clients it is to shut down its funds having taken another big hit from this year’s market slump, according to a report by Reuters.
Infini, a Hong Kong-based hedge fund is looking to recruit at least ten portfolio managers, according to a report by efinancialcareers.
The multi-strategy fund’s current recruitment drive includes the appointment of a chief risk officer, who will join the firm in the coming weeks.
Infinity increased its headcount by over 340 per cent in 2021 including the recruitment of five new portfolio managers including Jim Song, who is focused on global macro strategy.
The new portfolio managers are being recruited to manage a range of different strategies including ADRs and equity long/short covering Asia and global markets.
The latest 13-F filings released on Monday (16 May) reveal that hedge funds Tiger Global Management, Winslow Capital Management, and Scopus Asset Management all sold their shares in Netflix prior to the company reporting its first drop in subscriber numbers in more than ten years, according to a report by Bloomberg.
Hedge fund Light Street meanwhile, sold 7,960 shares in Netflix as well as all of its 149,025 shares in Facebook-parent Meta Platforms Inc FB.O, and also almost halved its stake in Google-parent Alphabet Inc GOOGL.O while cutting its exposure to Amazon.com Inc by 10% in Q1.
Meta was also
Hedge fund manager Pelham Capital’s flagship long-short fund is now down 28% so far in 2022, having taken a 7% hit in April, according to a report by Bloomberg.
Bridgewater Associates, the hedge fund led by billionaire Ray Dalio, has doubled its holdings in Chinese electric vehicle (EV) companies Li Auto and Xpeng, and significantly raised its exposure to Nio haven completely exited its position in Tesla in the first quarter of the year, according to a report by Benzinga.
