Managers
Hedge funds were caught off-guard by earnings from five of the “Magnificent Seven” tech giants last week, prompting significant short covering, according to a client note from the Prime Services division at Goldman Sachs.
Ananym Capital has intensified its campaign urging LKQ Corporation to sell its European business, arguing that a divestiture would unlock shareholder value and fund substantial share buybacks, according to a report by Reuters.
Hedge funds sharply reduced bearish bets on Brent crude in the final week of October, as new US sanctions on Russia’s largest oil companies triggered a record unwind of short positions, according to a report by Bloomberg citing data from ICE Futures Europe.
Hong Kong-based hedge fund Oasis Management has taken a stake in Japanese car care products maker Soft99 Corp, joining a heated dispute between management and activist shareholders over a proposed buyout, according to a report by Bloomberg.
A surge in retail trading through exchange-traded and structured products is reshaping the options market — creating both liquidity and opportunities for professional traders, according to a report by Bloomberg citing speakers at the Bloomberg Intelligence Volatility Forum in New York.
Hedge funds are ramping up bearish bets on the Japanese yen, with several large macro managers positioning for the currency to fall as low as JPY160 to the dollar before year-end, according to a report by Bloomberg citing data from the Depository Trust & Clearing Corporation.
UK-based quantitative investment firm Winton has entered the US mutual fund market for the first time after assuming the role of investment adviser to the Altegris Futures Evolution Strategy Fund, replacing Altegris Advisors LLC.
Bain Capital has agreed to acquire a minority stake in Innocap Investment Management, the Montreal-based managed account platform provider, amid growing institutional demand for separately managed accounts (SMAs) in hedge fund investing, according to a report by Bloomberg.
UBS is moving forward with the previously announced sale of its hedge fund unit, O’Connor, to US brokerage firm Cantor Fitzgerald, the bank’s CFO Todd Tuckner confirmed on Wednesday, according to a report by Reuters.
Hedge fund Carronade Capital Management has launched a proxy fight against billionaire investor Bill Foley, accusing him of “egregious corporate governance” at his listed holding company, Cannae Holdings, according to a report by the Financial Times.
