Managers
Hedge funds experienced a second straight month of inflows in July, bringing in USD10.5 billion as the industry continued to shake off spring’s pandemic-driven redemption trend.
July’s new assets built on June’s USD15.1 billion in inflows.
July’s inflows represented 0.3 per cent of industry assets, according to the Barclay Fund Flow Indicator published by BarclayHedge, a division of Backstop Solutions.
With a USD32.1 billion trading profit in July, total hedge funds industry assets stood at nearly USD3.26 trillion as July ended, up from USD3.11 trillion a month earlier.
Data from 6,900 funds (excluding CTAs) in the BarclayHedge database showed Balanced
With the ripple effect of Covid-19 still being felt in the global economy, investment opportunities in high yield credit, and in particular distressed credit, have been numerous as investors seek out higher yield, at a commensurate higher risk.
Sector- and credit-specific bond selection will become increasingly important for investors amid a surging wave of new issuance, as companies look to raise more money to combat the coronavirus fall-out, according to managers at London-listed global hedge fund giant Man Group, who suggested government bonds could prove “an attractive alternative.”
Corporate bond issuance has far outweighed the traditional muted summer volumes lately, with US gross investment grade corporate bond issuance reaching USD440 billion between June and August – some 80 per cent higher than the USD240 billion 10-year average.
In a commentary on Tuesday morning (22 Sep), Man GLG –
Deutsche Börse, Citi and Deutsche Bank have led a USD15 million fundraising round in CloudMargin, provider of a collateral and margin management solution native to the cloud.Read the full story at Institutional Asset Manager…
The SS&C GlobeOp Forward Redemption Indicator for September 2020 measured 3.43 per cent, up from 3.08 per cent in August.“SS&C GlobeOp’s Forward Redemption Indicator of 3.43 per cent for September 2020 compares favourably with the 3.67 per cent reported a year ago and September’s long-term averages,” says Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. “This decrease in redemption notices is consistent with the recent strong trend in hedge fund asset retention, indicating investor confidence remains high.”
The SS&C GlobeOp Forward Redemption Indicator represents the sum of forward redemption notices received from investors in hedge funds administered by SS&C
Tellworth Investments has launched the The Tellworth British Recovery & Growth Trust, which commenced its initial public offering on 16 September 2020. Read the full story at Wealth Adviser…
The Westbeck Volta Fund, a global long/short equity strategy launched last year by London-based energy specialist hedge fund Westbeck Capital to trade the emerging battery revolution, has advanced more than 18 per cent so far in 2020.
Hedge fund short sellers are circling Nikola Corporation, the electric vehicle and component manufacturer at the centre of fraud allegations, with the Nasdaq-listed firm’s share price tipped to tumble this week following executive chairman Trevor Milton’s sudden resignation on Sunday night (20 September).
Hickory Lane Capital Management, a New York-based fundamental equities-focused investment manager, is tapping into opportunities across the TMT, industrials and consumer sectors with a new long/short equity strategy, which has launched with USD100 million in assets anchored by asset management seeder Investcorp-Tages.
Established in July this year by former Brahman Capital managing director and partner Joshua Pearl, Hickory Lane trades technology, media, telecommunications, industrials and consumer stocks on a long and short basis using a mix of long-term fundamental stock selection and top-down sector analyses.
The fund invests in stocks from a balance sheet perspective, with the investment portfolio taking
The frantic hunt for an effective vaccine against coronavirus could leave some pharmaceutical companies highly exposed in a fiercely competitive race – and UK hedge fund Argonaut Capital is weighing in with several key bets against the sector.
