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Goldman Sachs delivered first-quarter earnings ahead of expectations, driven by strong performance in equities trading and investment banking, although weaker results in fixed income, currencies and commodities (FICC) weighed on the stock, according to a report by Reuters.
Digital asset investment products saw $1.1bn of inflows last week, the strongest since January, driven by improved, lower-than-expected CPI and easing geopolitics, according to the latest Digital Asset Fund Flows Weekly Report from CoinShares.
In Alternative Views, Hedgeweek® goes behind closed doors with those in the know to get the latest on hedge funds. Today, we speak to David Stermerman, CEO of Centerbook Partners, an alpha capture platform for hedge funds.
TOP STORY: Hedge funds increased bullish equity positioning last week as investors moved to position for a potential de-escalation in US–Iran tensions ahead of weekend geopolitical developments, according to a report by Reuters citing client data from Goldman Sachs.
Balyasny Asset Management has recruited Trung Nguyen a portfolio manager at Brevan Howard as it continues to scale its presence in Asia, underscoring the multi-strategy firm’s growing commitment to the region, according to a report by eFinancial Careers
Bill Ackman has begun the roadshow for the initial public offerings of Pershing Square Capital Management and a new listed investment vehicle, pressing ahead with the launch despite heightened geopolitical uncertainty and volatile market conditions, according to a report by Reuters.
Dan Sundheim’s D1 Capital Partners reported a difficult March, with its equities portfolio declining approximately 6%, placing the firm among the weaker-performing stock-focused hedge funds during the month, according to a report by Bloomberg citing unnamed sources familiar with the matter.
Alua Capital Management is shutting down its roughly $2bn hedge fund, bringing an end to a high-profile launch backed by strong pedigree but ultimately falling short on performance, according to a report by Bloomberg.
Allocator interest in commodity hedge funds has nearly doubled over the last two quarters. Luke Sadrian, who launched the Fulcrum Commodities Fund six months ago, thinks the market is still underestimating how much has changed – and why the opportunity may last years, not months.
Activist hedge fund firm Third Point, led by billionaire investor Daniel Loeb, has withdrawn from its investment in CoStar Group and will not proceed with a planned proxy contest, according to a report by Reuters citing a recent letter and unnamed people familiar with the matter.
