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Citigroup Inc has observed a significant shift in carry trade strategies, with hedge funds increasingly borrowing US dollars rather than Japanese yen to invest in emerging-market currencies, according to a report by Bloomberg.
Mega-cap tech stocks remain the cornerstone of hedge funds’ top 20 equity positions, according to a report by MarketWatch citing recent analysis of 332 money managers with in excess of $1bn in AUM.
David Goel, a former protégé of Tiger Management founder Julian Robertson, has decided to close his $11bn hedge fund firm Matrix Capital Management and return client cash, due to personal health issues, according to a report by Bloomberg.
Bitwise Asset Management has expanded into Europe with the acquisition of ETC Group, a London-based crypto ETP issuer with over $1bn in AUM, adding nine European-listed crypto ETPs to its suite of ETPs, hedge fund solutions and separately managed accounts.
Digital asset investment funds saw minor inflows last week totalling $30m, as recent macroeconomic data implied the US Federal Reserve is less likely to cut interest rates by 50 basis points in September, according to CoinShares.
Multi-strategy hedge fund major Millennium Management has lost the services of four energy professionals – two senior natural gas traders, a crude trader and a natural gas analyst, according to a report by Bloomberg.
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.
