Managers
Man Group is set to expand its Middle East footprint with plans to open an office in Abu Dhabi, joining a wave of global hedge fund managers building out operations in the UAE’s fast-growing financial centres, according to a report by Bloomberg.
The US Securities and Exchange Commission has once again pushed back the compliance deadlines for its controversial short-sale and stock lending disclosure rules, meaning hedge funds and other large investors have several more years before its requirements take effect, according to a report by Bloomberg.
UK hedge funds and financial firms are expressing concern after the government revived plans to reform non-compete clauses in employment contracts, raising the prospect of an outright ban or tighter time limits, according to a report by Bloomberg. Proposals published alongside last week’s budget seek industry feedback on whether post-employment restrictions should be capped at three or six months, or removed entirely.
Hedge fund Citadel has introduced an artificial intelligence–powered research tool to speed up analysis for its equities investors, according to a report by Reuters citing chief technology officer Umesh Subramanian.
Marshall Wace, a global liquid alternatives manager with over $70bn in assets, has adopted Bloomberg’s Multi-Asset Class Fundamental Risk Model files to support its quantitative research and systematic investment strategies.
Saba Capital has moved to block the proposed merger of the Baillie Gifford US Growth Trust and the Edinburgh Worldwide Investment Trust, according to a report by Reuters.
Balyasny Asset Management delivered a 2.5% gain in November, bringing year-to-date performance to 15.3%, according to a report by Reuters. The $31bn multi-strategy manager has been ahead of many of its competitors through the first 10 months of the year.
Marshall Wace will introduce a new fee across its systematic TOPS funds from 1 January, shifting a portion of rising technology, trading and staffing costs onto investors amid increased competition for quantitative and AI talent, according to a report by Bloomberg.
The Alternative Investment Management Association (AIMA) and the Managed Funds Association (MFA) have pushed back against Bank of England proposals to impose minimum haircuts on gilt repo transactions, arguing the measures would reduce liquidity, make gilts less attractive, and be detrimental to UK borrowing costs, according to a report by Bloomberg.
Quantitative hedge fund Qube Research & Technologies, which has $36bn in assets under management, has begun reducing headcount following several years of aggressive hiring, according to a report by eFinancialCareers citing people familiar with the matter.
