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Wealthy investors in the US and Asia are redirecting hedge fund allocations away from the US and toward Europe and the Middle East, according to a report by Reuters citing the findings of a Bank of America survey of 263 allocators representing roughly $840bn in assets.
MFA has appointed John Van Etten as Managing Director, Head of US Government Affairs to lead the association’s engagement with Congress and the Administration on a broad range of policy issues affecting the alternative asset management industry.
Hedge fund Discovery Capital Management, led by Rob Citrone, has advanced more than 20% so far this year, driven in part by strategic positions in Argentine assets, according to a report by Bloomberg citing unnamed sources familiar with the fund.
Brevan Howard has cut at least four employees in its technology teams in both London and Abu Dhabi, representing roughly 2% of its middle- and back-office workforce, according to a report by Bloomberg citing unnamed sources familiar with the matter.
Macro hedge fund Modular Asset Management is set to conclude its $600m separate account with Millennium Management by the end of the year by mutual consent, bringing to an end a partnership that began in early 2020 after Modular spun out from the multi-strat major.
Quant-focused hedge fund Qube, which has $34bn in assets under management, is set to go live with its first internal fundamental stock-picking team on 1 October, according to a report by Business Insider citing unnamed sources.
Hedge fund redemptions remained relatively stable in September, according to SS&C Technologies’ latest GlobeOp Forward Redemption Indicator, rising slightly to 2.21%, from from 2.03% in August, but still below the 2.72% reported for the same period last year.
Pyth Network, a provider of institutional market data, has launched Pyth Pro, a subscription service aimed at delivering cross-asset, institutional-grade pricing across cryptocurrencies, equities, fixed income, commodities, and foreign exchange.
Australian hedge fund Totus Capital posted one of its strongest monthly performances recently, driven by a rebound in key holdings after a challenging stretch for its investment book, according to a report by the Financial Review.
Malcom Pratt, former co-head of EMEA high-touch sales trading at Bank of America, has joined RBC as a hedge fund sales trader following a short-lived move to fintech firm Clear Street, according to a report by eFinancial Careers.
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