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Optical component stocks are once again emerging as a favoured momentum trade as investors regain confidence in the scale of artificial intelligence spending by the world’s biggest technology companies, according to a report by Bloomberg.
Hong Kong’s proposed tax concessions for performance fees and carried interest will not be available to proprietary trading firms, putting an end to speculation that the city could extend its asset management incentives to the sector, according to a report by Bloomberg.
Global hedge funds increasingly rotated within the artificial intelligence trade during July, reducing exposure to some of the sector’s most crowded names while favouring companies showing clearer evidence that heavy AI investment is translating into revenue and earnings growth.
Activist hedge fund Elliott Investment Management has stepped up pressure on Australian gold producer Northern Star Resources, putting forward six potential directors after negotiations with the company failed to deliver agreement on board changes, according to a report by Northern Miner.
Brazil’s upcoming presidential election is beginning to unsettle investors, with several asset managers reducing exposure to the Brazilian real and local bonds after a strong run for the country’s carry trade, according to a report by Bloomberg.
Asia-focused hedge fund manager Arrowpoint Investment Partners is strengthening its investment and management ranks with a series of hires from UBS’s former O’Connor platform, including the unit’s regional head and its China long-short team, according to a report by Bloomberg.
Buy-side firms are increasingly looking to integrate foreign exchange trading into broader multi-asset execution management systems, with the ability to monitor risk across asset classes in real time emerging as the main motivation for consolidation, new research shows.
Fasanara Capital has appointed Dr Darran Specter, CFA, as Head of Quant Equity, as the $6bn asset manager continues to expand its quantitative investment platform.
Hedge funds and other currency investors are increasing their use of options to navigate heightened uncertainty around the yen ahead of key US inflation data, with traders split over whether the dollar is poised for further gains against the Japanese currency, according to a report by Bloomberg.
Viridian Asset Management, the Hong Kong hedge fund firm founded by former Segantii Capital Management portfolio manager Pascal Guttieres, grew assets to $680m after attracting a new investor and generating strong returns during July’s market turmoil, according to a report by Bloomberg.
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