Managers
Cliff Asness, co-founder of AQR Capital Management, says US equities look historically expensive but not dangerously overvalued, arguing that while prices are high, they fall short of the excesses seen during past bubbles, according to a report by Bloomberg.
Activist investor Elliott Investment Management has quietly built a significant stake of almost 5% in Toyota Industries Corp, joining a growing chorus of shareholders opposing the proposed JPY16,300-per-share ($30.5bn) buyout offer led by Akio Toyoda as too low, according to a report by Bloomberg.
Hedge funds sharply reduced their exposure to consumer discretionary stocks last week, cutting positions in hotels, restaurants, and leisure groups to levels not seen since the 2020 pandemic, according to a report by Reuters citing a note from Goldman Sachs.
Hedge fund trading is contributing to upward pressure on UK gilt repo rates, according to a report by Bloomberg citing comments made by Victoria Saporta, the Bank of England’s Executive Director for Markets, at the ECB Money Market Conference in Frankfurt.
Hedge funds are increasingly taking short positions in Xiaomi Corp, according to Goldman Sachs, as investors grow cautious ahead of the Chinese tech and EV company’s third-quarter earnings, according to a report by Bloomberg citing data from Goldman Sachs.
A growing share of global hedge funds are gaining exposure to digital assets, with 55% of funds now invested in crypto, up from 47% last year, according to a new report by the Alternative Investment Management Association (AIMA) and PwC.
A growing number of hedge fund startups are choosing to launch with just one investor, typically through separately managed accounts (SMAs), as access to diversified capital becomes increasingly difficult in an industry dominated by multi-strategy giants, according to a report by Bloomberg.
Short sellers turned defensive in October as consumer-facing companies became the most crowded trades globally, while technology names continued to attract bearish bets, according to Hazeltree’s latest Shortside Crowdedness Report.
The Alternative Investment Management Association (AIMA) is lobbying the UK government to exempt hedge funds from upcoming climate disclosure rules that would require firms to publish detailed transition plans toward net zero, according to a report by Bloomberg.
TriMas Corp has agreed to sell its aerospace division to an affiliate of investment firm Tinicum for $1.45bn in cash, as the US packaging manufacturer responds to activist pressure from hedge fund Barington Capital to streamline operations, according to a report by Reuters.
