Latest News
As ever, hedge fund news in the first month of the year was dominated by last year’s returns, with lots of positives from the likes of Citadel (15.3%), Millennium Management (10%), DE Shaw (10%), Rokos Asset Management (8.8%) et al. Taken in the context of the S&P 500’s 23% gain for the year though, and the Nasdaq’s even more formidable 43% return on the back of the continuing tech-driven rally in US stocks, their high single- or low-double digit returns weren’t that much to shout about.
Institutional investor interest in catastrophe bonds, one of the riskiest corners of the debt market, is on the increase on the back of reports of record returns at hedge funds including Fermat Capital Management, Tenax Capital and Tangency Capital, according to a report by Bloomberg.
Activist hedge fund firm Elliott Management wants Japan’s biggest property group, Mitsui Fudosan, to launch a JPY1tn ($6.8bn) share buyback scheme in a bid to improve the company’s market valuation, according to a report by the Financial Times.
The first Danish conviction in the ‘Cum-Ex’ tax evasion scandal has seen a hedge fund trader sentenced to six years behind bars for his role in a scheme that cost the country’s treasury an estimated DKK12.7bn ($1.9bn), according to a report by Bloomberg.
Pascal Guttieres, a former UBS Group banker, is launching a new Hong Kong-based hedge fund, Viridian Asset Management, that will bet on a revival in Asia stock sales after volumes last year fell to the lowest seen in a decade, according to a report by Bloomberg.
Hedge fund managers from Tribeca Investment Partners, Terra Capital and Anaconda Invest are expecting significant gains for copper stocks in 2024, according to a report by Bloomberg.Â
Steve Cohen’s Point72 Asset Management and Capstone Investment Advisors, the volatility arbitrage hedge fund firm founded by Paul Britton, have both expanded their European operations by opening offices in Milan, according to a report by Bloomberg.
Law firm Akin Gump Strauss Hauer & Feld has rehired Ira Kustin, who has experience with both hedge funds and credit funds, as a Partner in its investment management practice in its New York office as part of its expansion into the hedge fund industry.Â
Norwegian hedge fund First Seagull has acquired a 5.3% stake in Superdry on the back of a series of profit warnings and a share price slide that the investment firm believes makes the UK-based retailer ripe for a takeover bid, according to a report by The Times.
Activist hedge fund Elliott Investment Management has secured a board seat at online retail platform Etsy with Portfolio Manager Marc Steinberg having been appointed as a Director with effect from 5 February, according to a report by Reuters.
