Hedge funds saw a boost in July thanks to a rally in French biotech Abivax, as its US-listed shares jumped more than 580% in a single day following positive Phase 3 trial results for its ulcerative colitis oral treatment obefazimod, according to a report by the Wall Street Journal.

The rapid growth of hedge funds and private investors in catastrophe reinsurance is raising questions about the sector’s long-term stability, according to a report by the Financial Times citing Munich Re board member Stefan Golling.

Hedge funds are increasing wagers that the Chinese yuan will extend its rally against the dollar, with options market activity pointing to expectations of the offshore yuan (CNH) strengthening to seven or firmer by year-end, according to a report by Bloomberg citing SGX Derivatives Exchange data.

Activist hedge fund Sachem Head Capital Management, led by Scott Ferguson, has nominated four directors to the board of Performance Food Group (PFGC), according to a report by Reuters citing unnamed people familiar with the matter.

Hedge funds have slashed bullish wagers on US crude to their weakest level in nearly two decades, reflecting growing concern over a looming supply glut and heightened policy uncertainty, according to a report by Bloomberg citing data from then Commodity Futures Trading Commission.

Large multi-strategy platforms are parting company with Portfolio Managers looking to relaunch independent even-driven hedge funds, as improving M&A volumes renew appetite for merger arbitrage, according to a report by Bloomberg.

Launching a hedge fund has become easier in recent years, thanks to the rise of separately managed accounts (SMAs), according to a report by Business insider citing Kristin Kramer, Goldman Sachs’ Global Head of Capital Introduction.