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Hedge funds are making a notable pivot, selling off industrial stocks at the fastest rate since December while continuing to buy energy stocks for the fourth consecutive week, according to a report by Reuters.
Ossie Manners, a veteran in electronic trading, has joined Rokos Capital Management as the head of systematic technology. Manners previously led Citi’s commodities electronic trading division for four years, departing the bank in April, according to a report by eFinancial Careers.
Trend-following commodity trading adviser hedge funds have shifted their stance on Japanese equities, moving away from a bearish outlook to begin buying again late last week, according to a report by Channel News Asia.
GoldenTree Asset Management, a global asset management firm with approximately $55bn in AUM active across the credit space, has appointed Avineet Punhani as Principal.
Dubai-based Magellan Capital Holdings Ltd is set to launch a $700m multi-strategy hedge fund next month, in what will be one off the largest ever fund debuts in the United Arab Emirates, according to a report by Bloomberg.
Coatue Management, the hedge fund firm led by Philippe Laffont, increased its stake in Nvidia by 893% in Q2 to 13.75 million shares with the position in the chipmaker now accounting for 6.61% of the firm’s investment portfolio, according to a report by Benzinga.
ExodusPoint Capital Management saw a $1bn decline in AUM during H1 2024 to $11.04bn as of 30 June, down from $12.02bn at the end of 2023, according to a report from Reuters. At its peak in December 2022, the firm managed $13.1bn.
Data from research firm PivotalPath has highlighted that hedge funds outpaced the S&P500 in July, with strong returns driven by financial sector exposure as funds sought to diversify away from megacap technology stocks, according to a report by XM.
Rokos Capital Management, the London-headquartered global macro hedge fund firm founded by Chris Rokos, has appointed Matthew Sebag-Montefiore, who has been with the firm since 2018, as its new Chief Executive Officer, according to a report by Bloomberg.
Viking Global Investors, the hedge fund firm led by Andreas Halvorsen, has chalked up big gains from a decision earlier in the year to shift all of its General Electric Co exposure to the firm’s newly independent clean energy division GE Vernova, according to a report by Bloomberg.
