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Crypto hedge funds have dramatically reduced their bitcoin exposure to levels not seen since October 2020, according to a report by The Block citing recent data from ETC Group.Â
TOP STORY: Earlier this year, Bayview Asset Management structured two re-securitisation trades worth $642m, the structures of which were modelled after similar pre-2008 financial crisis transactions by a major US bank, according to a report by Reuters.Â
Hazeltree, a provider of active treasury and intelligent operations technology for the alternative asset industry, has appointed Paul Yates as senior pre-sales director based in London, according to a report by Securities Finance Times.Â
21Shares US, an affiliate of 21Shares, a global issuer of crypto exchange traded funds, has appointed Federico Brokate as Vice President, Head of US Business. In his new role, Brokate will support 21Shares’s expansion into the US market.Â
The ‘Long Magnificent Seven’ trade, a strategy focused on mega-cap US technology companies, is the most crowded trade for the 15th consecutive month, according to report by MarketWatch citing Bank of America’s Global Fund Manager Survey.Â
Sona Asset Management, a London-based alternative asset manager investing across credit, has successfully raised $800m for its second capital solutions fund, targeting businesses struggling to secure financing amid a retreat by traditional banks, according to a report by Bloomberg.Â
Hedge fund managers focusing on mergers and acquisitions have outperformed those using other strategies, achieving a 7.7% return in the first five months of 2024, according to a report by Reuters citing a Goldman Sachs client note.Â
Steve Cohen’s Point72 Asset Management is planning to raise approximately $1bn for a new hedge fund focusing on AI, marking the firm’s first new hedge fund in decades, according to a report by Bloomberg.Â
While Wall Street strategists are bullishly raising their targets for the S&P 500 Index, hedge funds are exercising increased caution towards equities, according to a report by Bloomberg citing a note by Goldman Sachs’s prime brokerage desk.Â
Cliff Asness’s AQR Capital Management has touted the resurgence of convertible arbitrage, a niche strategy that capitalises on debt convertible into equity, according to a report by Bloomberg.Â
