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Led by directional equity hedge and event-driven strategies, the HFRI Fund Weighted Composite Index advanced 1.3% in May, with additional positive contributions from relative value arbitrage strategies offsetting a decline in macro strategies.
AlphaGrep Global Capital, the international asset management business of AlphaGrep Group, has appointed Chief Operating Officer Dr Brendan Campbell as the company’s new Chief Executive Officer, effective immediately.
Multi-strategy major Millennium has become the latest hedge fund to add an AI researcher to its team with the appointment of PhD nuclear physicist Aaron Key as its Head of AI for Fixed Income Technology, according to a report by eFinancial Careers.
AQR Capital Management, an alternative asset manager with $109bn in assets across hedge funds, long-only and liquid alternatives, has parted company with Principal and Global Co-Head of its macro strategies group Yao Hua Ooi, according to a report by Pensions & Investments.
Indian hedge fund firm Avendus Capital sees bets on the country’s banking sector as its preferred option for stock market wagers amid what it sees as a favourable upcoming interest rate cycle and the bottoming out of net interest margins, according to a report by the Economic Times.
EEX Group global power markets were up 47% year-on-year in May at 952.5 TWh, mostly driven by further significant growth on the French (+140% YoY), the Spanish (+129% YoY), and Japanese (+128% YoY) EEX power derivatives markets.
Two years after leaving Citadel supposedly to join Millennium on a rumoured $50m package, Stefan Ericsson is back in business, not at Izzy Englander’s multi-strategy major, but at Taula Capital, former Millennium Senior PM Diego Megia’s new firm, according to a report by eFinancial Careers.
A number of energy-focused hedge funds including Cayler Capital and Northern Trace Capital posted losses last month amid low volatility in global oil markets which presented challenges for traders and algorithmic strategies, according to a report by Bloomberg.
MFA, the trade association for the global alternative asset management industry, has appointed Rob Hailey as Managing Director, Head of Europe, Middle East and Africa Government Affairs.Â
Hedgeweek has announced the winners of the US Emerging Manager Awards 2024, which recognise fund performance and service provider excellence within hedge fund emerging managers.
