Latest News
Hedge fund managers are retreating from high-risk positions, following a volatile week in the markets as the unwinding of billions of dollars of yen-funded trades and growing concerns of a US recession prompted a brutal sell-off and recovery, according to a report by Reuters.
New York-based hedge fund Starboard Value has acquired a stake in Starbucks joining fellow activist Elliott Investment Management in investing in the troubled coffee retail chain, according to a report by The Wall Street Journal.
Former Engine No. 1 executive Charlie Penner, known for his landmark shareholder campaign against Exxon Mobil Corp over three years ago, has secured backing from the late Julian Robertson’s Tiger Management for his new activist venture, Ananym Capital Management, according to a report by Bloomberg.
Avelacom has reduced network latencies between European markets and major East Asian cities Tokyo, Shanghai and Hong Kong with the latency for the London-Shanghai now less than 125ms compared to the previous industry benchmark of approximately 133ms.
Derivatives and securities exchange network Cboe Global Markets is expanding its volatility products with the launch of options on Cboe Volatility Index futures, subject to regulatory review.
Kirkoswald Asset Management, the hedge fund firm led by ‘Wizard of Oz’ Greg Coffey, is venturing into the private credit sector for the first time by providing a $20m senior secured loan to Turkish textiles exporter Altinyildiz, according to a report by Bloomberg.
David Einhorn’s value driven hedge fund Greenlight Capital has significantly increased its stake in HP, elevating the technology stock to one of its top five positions, according to a report by Institutional Investor citing a recent client letter.
Hedge funds ramped up their bearish positions on Japanese stocks at the fastest rate in over five years, with the surge in short-selling during between 2 August and 8 August coinciding with the Nikkei’s worst performance since Black Monday in 1987, according to a report by Reuters.
Hedge funds have adopted their most bearish stance on commodity prices since at least 2011, driven by concerns over a potential economic slowdown impacting demand for raw materials ranging from crude oil to metals and grains, according to a report by Bloomberg.
Third Point, the $12bn activist hedge fund firm led by Daniel Loeb, has built a 6% stake in Bath & Body Works and is pushing for board changes at the retailer, according to a report by Reuters citing a recent regulatory filing.
