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Hedge funds posted mixed performance in June as election and political risks surged throughout Asia, Europe and the US, with European and Asian central banks cutting interest rates despite inflationary pressures, and gains in US large cap tech stocks hitting record highs.
Former Goldman Sachs analyst and cryptocurrency hedge fund boss Murad Mahmudov has openly criticised Ripple-promoted XRP and Cardano’s ADA, labelling them as “cult meme coins” in a post on social media platform X, according to a report by ZyCrypto.
Australia’s $2.6tn pension market, one of the world’s fastest-growing pools of retirement capital, is reducing its hedge fund investments amid growing regulatory scrutiny over fees and performance, according to a report by Bloomberg.
Hedge funds are aggressively investing in commodity-sensitive stocks, ramping up their acquisitions to the fastest rate seen in five months, according to a report by MarketWatch citing data from the prime brokerage division at Goldman Sachs.
Viridian Asset Management, a new hedge fund firm led by Pascal Guttieres, a former portfolio manager at Segantii Capital Management, has received approval in principle from Hong Kong’s securities watchdog, according to a report by Bloomberg.
Zurich-headquartered asset management group GAM has appointed Randel Freeman as Co-Head/Co-CIO of its new alternative investments unit – GAM Alternatives. Last year, Freeman was a candidate for CEO but withdrew for personal reasons.
Pirum, a provider of securities finance automation and connectivity solutions, has appointed Richard Marquis as its Director of Sales for North America.
TOP STORY: Hedge funds that bet against Tesla have been hit hard by a substantial rally in the company’s share price, with 18% of over 500 hedge funds tracked by Hazeltree holding short positions in Tesla by the end of June, up from 15% at the end of March, according to a report by Bloomberg.
EEX Group global power markets continued their upward trend in terms of year-on-year monthly volume growth in June to 893.6 TWh (+17%), with significant increase recorded in Belgian power futures (+110%) and CSEE power futures (+123%).
Paul Singer’s Elliott Investment Management, one of the world’s largest activist investment firms, is planning to expand its New York City office presence, four years after moving its headquarters to Florida, according to a report by the Real Deal.
