Hedge funds have significantly increased positions in banks, insurance, and consumer finance companies, marking the fastest pace of buying in three months, according to a report by Bloomberg citing a research note from Goldman Sachs.

One of Wall Street’s hottest hedge fund strategies – the dispersion trade which profits when index volatility remains subdued while single-stock volatility rises – is showing signs of crowding, prompting some managers to take the other side, according to a report by Bloomberg.

Australian hedge fund manager Sage Capital saw both of its flagship strategies lag benchmarks in August, as high-conviction positions in Telix Pharmaceuticals and WiseTech Global dragged on performance during what it called one of the most volatile earnings seasons on record, according to a report by Financial Review.

Hedge funds and asset managers are taking sharply opposing positions on the Japanese yen, with leveraged funds ramping up bearish bets while traditional managers maintain bullish exposure, according to a report by Bloomberg, citing data from the Commodity Futures Trading Commission (CFTC).

Hedge funds have begun reducing bearish positions on French luxury group Kering after the appointment of a new CEO signalled a potential strategic shift at the company, according to a report by CNBC citing unnamed sources familiar with the matter.

Credit-focused hedge fund firm Daimeter Capital Partners and private investment firm Apollo Global Management haver closed short positions against the debt of First Brands Group, the heavily leveraged US auto-parts maker, according to a report by Bloomberg.