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Cliff Asness, co-founder of quant hedge fund firm AQR Capital Management, considers the rise of generative AI to be “evolutionary, not revolutionary”, emphasising that despite the hype, AI is “still just statistics”, according to a report by Pensions & Investments.
Ray Dalio-founded hedge fund firm Bridgewater Associates has promoted Joanna Alpert, general manager for China, to lead its new Total Portfolio Strategies unit, which will develop and manage new investment products, according to a report by Reuters.
New York-based hedge fund firm Two Sigma Investments has appointed Ali-Milan Nekmouche to lead its new AI and machine learning team, according to a report by Bloomberg.
US-based emerging markets hedge fund Gramercy is expected to generate approximately $90m (AUD135m) annually from its 2023 litigation funding deal with Pogust Goodhead, according to a report by the Australian Financial Review.
Hedge fund Solo Capital’s founder Sanjay Shah, who has been accused of masterminding a £1.44bn ($1.83bn) dividend tax fraud against Denmark, said that he had depended on others for tax and legal advice in a London court on Tuesday, according to a report by Reuters.
Hedge funds are cutting their stakes in large-cap technology stocks, shifting their focus to a broader range of companies that are involved in, or stand to benefit from advancements in AI, according to analysis from Goldman Sachs.
New York state legislators are considering a change to an existing law that imposes a 9% interest rate on defaulted sovereign emerging-market bonds which, if enacted, could make cases like Elliott Investment Management’s dispute with Argentina less likely, according to a report by Bloomberg.
Global hedge funds have increased their holdings of Chinese equities for the fourth consecutive week, joining the growing number of investors anticipating a market rebound, according to a report by Reuters citing a note from Goldman Sachs’ prime brokerage team.
Izzy Englander, founder of the $61bn New York-based hedge fund Millennium Management, appears to be increasingly confident that the share price of international sports betting and gambling company Flutter Entertainment is set to decrease, according to a report by The Irish Times.
London-based crypto hedge funds are experiencing significant gains this year, reflecting growing market optimism for digital assets, according to a report by Financial News.
