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TOP STORY: Steve Cohen’s Point72 Asset Management is preparing to return a significant portion of capital to investors for the first time, joining other large multi-strategy hedge funds that are capping assets after a period of rapid growth, according to a report by Bloomberg.
Elliott Advisors, the UK arm of activist hedge fund giant Elliott Investment Management, significantly boosted pay for its directors last year, despite a slight drop in revenue, according to a report by Financial News.
State Street Global Advisors, the asset management business of State Street Corporationhas launched the State Street Global Alternative Beta Fund, which seeks to approximate the returns of hedge funds as a broad asset class.
Jackie Haynes, the former Head of Trading Analytics for Equity Quant Research at Multi-strategy hedge fund major Citadel, has returned to the banking sector as a Managing Director and Distinguished Architect for Risk Technology at JPMorgan, according to a report by eFinancial Careers.
The KLS Scopia Market Neutral Equity Fund has grown its AUM to $63m and recorded a 12-month trailing net return of 9.8% since being launched by New York-based hedge fund manager Scopia Capital Management in UCITs format on Kepler Partners’ KLS Funds platform.
Southwest Airlines revealed significant changes to its board of directors on Tuesday, including the upcoming departure of executive chairman Gary Kelly, following pressure from Elliott Investment Management, the activist hedge fund pushing for sweeping reforms at the company.
Andre Laport, a prominent Brazil money manager, has stepped down from Vinland Capital, the hedge fund he co-founded, for personal reasons, leaving control to fellow Co-Founder James Oliveira, according to a report by Bloomberg.
ExodusPoint, the $11bn hedge fund led by former Millennium executive Michael Gelband, has responded to investor pressure by introducing a new fee structure, tying performance fees to short-term Treasury yields, according to a report by Business Insider.
Standard Chartered has launched a new digital asset custody service in the UAE following the receipt of a licence from the Dubai Financial Services Authority (DFSA), with Brevan Howard Digital (BH Digital) confirmed as the inaugural client.
Alan Howard, co-founder of Jersey-headquartered global macro hedge fund major Brevan Howard Asset Management, is considering relocating from London to Geneva, according to a report by Bloomberg citing sources familiar with the matter.
