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New York-based hedge fund firm Mass Ave Global and Co-Founder and CEO Winston M Feng have agreed to pay a combined $600,000 in penalties to settle SEC charges that it made “false and misleading statements” to investors in its flagship Asia hedge fund.
With a weakening yuan and fragile economy driving demand for foreign assets in China — the latest sign of low confidence among domestic investors — global fund launches in the country have hit a record high, according to a report by Reuters.
GoldenTree Asset Management has closed a $500m collateralised loan obligation – GoldenTree Loan Management US CLO 20 – to be managed by GLM III, taking the total issued under the firm’s GLM strategy to over $14bn via 26 CLOs.
Man Group, the world’s largest listed hedge fund, is among a number of investment firms increasing their exposure to convertible arbitrage, which seeks to capitalise on price discrepancies between a convertible bond and its underlying stock, according to a report by Bloomberg.
The European Energy Exchange has established a subsidiary in Japan to strengthen ties with local stakeholders including the trading community and authorities.
Hedge funds sold off US cyclical stocks at the fastest rate seen so far this year last week, also kicking off their largest sell-off of US industrial stocks in more than 10 years, according to a report by Morningstar.
Stuart Currey, APAC Head of Systematic Trading at Citadel Securities, has become the latest senior figure from the market-making firm to join multi-strategy hedge fund major Millennium, according to a report by eFinancial Careers.
Wellington, the flagship fund at Ken Griffin’s multi-strategy hedge fund firm Citadel, has surpassed $14.5bn in assets, having more than doubled in size over the past five years, according to a report by the South Florida Business Journal.
Engineers Gate, a New York-based quant firm founded nearly 10 years ago by Highbridge Capital co-founder Glenn Dubin which has more than $2bn in assets, is building out an office in Singapore, according to a report by Business Insider.
Hedge funds have increased their exposure to the so-called Magnificent Seven tech stocks to a record high on the back of Nvidia’s latest earnings report, which surpassed analyst expectations, according to a report by Bloomberg.
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