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Hedge funds sharply reduced their exposure to consumer discretionary stocks last week, cutting positions in hotels, restaurants, and leisure groups to levels not seen since the 2020 pandemic, according to a report by Reuters citing a note from Goldman Sachs.
London-based hedge fund LMR Partners has strengthened its equities business by hiring Andy Hill, formerly head of trading at ExodusPoint, as its new head of European equities trading, according to a report by eFinancial Careers.
Hedge fund Balyasny Asset Management has bolstered its AI capabilities with the hire of Matthew Henderey, former chief data scientist for the CIA’s Office of Artificial Intelligence, according to a report by eFinancial Careers citing unnamed sources familiar with the matter.
Hedge fund trading is contributing to upward pressure on UK gilt repo rates, according to a report by Bloomberg citing comments made by Victoria Saporta, the Bank of England’s Executive Director for Markets, at the ECB Money Market Conference in Frankfurt.
Pharo Management has shifted partner Nicolas Sagna to its Abu Dhabi office, completing the relocation of its Africa fund team from New York and London, according to a report by Financial News London citing unnamed sources familiar with the matter.
RPD Fund Management’s RPD Fortress Fund, which combines deep-value equity research with cash-covered option writing, has continued its consistent performance streak, delivering positive returns in 32 of the 33 months since its inception.
UK-based hedge fund giant Marshall Wace delivered solid returns in October, with two of its flagship strategies posting gains amid a strong year for systematic equity trading, according to a report by Reuters citing an unnamed source familiar with the matter.
Brevan Howard, one of the world’s largest hedge funds, has made a $200m allocation to Catalio Capital Management’s Public Equities Fund, a healthcare-focused strategy, according to a report by Reuters, citing people familiar with the matter.
Hedge funds continued their strong run in October, with the HFRI Fund Weighted Composite Index (FWC) advancing for the sixth consecutive month, led by Macro and Healthcare-focused strategies, according to new data from hedge fund fund index and analysis specialist HFR.
UBS Group AG is liquidating two hedge funds at its Chicago-based O’Connor business after losses tied to the bankrupt auto-parts supplier First Brands Group, marking one of the first signs of strain for investors exposed to the company, according to a report by Bloomberg.
