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Hedge funds have decreased their net long positions on the Mexican peso by 56,709 contracts following the country’s unexpected election of Morena’s Claudia Sheinbaum, bringing the total down to 27,304 contracts, according to a report by Bloomberg.Â
Melbourne-based L1 Capital’s flagship Long Short Fund, which has delivered a 20% annual return since its inception, is banking on a swift recovery for uranium producer NexGen Energy, according to a report by Bloomberg.Â
Hedge funds and money managers have significantly increased their bearish bets against US gasoline, reaching the highest level in over five years amid growing concerns about oversupply, according to a report by Bloomberg.Â
Hedge funds are shifting away from technology stocks, particularly semiconductor and chip equipment, following robust gains in Q1 2024, according to a report by CNBC citing data from Goldman Sachs’ prime brokerage.Â
Neil Phillips, co-founder of hedge fund firm Glen Point Capital, has been sentenced to probation instead of a two-year prison sentence for manipulating an exchange rate, partly because the victim was Morgan Stanley, according to a report by Bloomberg.Â
Bobby Jain’s multibillion-dollar hedge fund Jain Global has recruited more than 10 portfolio managers for its London office, pushing the total above 50 members as it prepares for its debut on 1 July, according to a report by Financial News.Â
Finery Markets, a global trading infrastructure provider for digital assets, has partnered with digital assets financial services provider BitGo, which will add regulated qualified custody and automated settlement to the former’s trading network.Â
Trading Technologies International, a SaaS technology platform provider to the global capital markets industry, has partnered with Hidden Road, a prime brokerage backed by Citadel Securities, through Hidden Road Partners CIV US, its CFTC-regulated futures commission merchant.Â
Offshore law firm Carey Olsen has promoted Michelle Falcucci, Richard Sykes, Tim Bamford, Rachel De La Haye, Andrew Tually and Nienke Malan, with effect from 1 July, bringing the firm’s total number of Partners to 84 in the process.Â
Balyasny Asset Management has terminated its $250m managed account with Franck Tuil’s activist hedge fund, Sparta Capital Management, within a year of initially backing the former Elliott Investment Management trader, according to a report by Bloomberg. Â
