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Brazil’s hedge fund industry suffered its weakest monthly performance in six years in March, as a sharp repricing in global interest rates – driven by surging energy prices – unravelled widely held macro positions across local managers, according to a report by Bloomberg.
Zaheer Ebtikar, founder of the digital assets hedge fund Split Capital, is winding down the firm as he transitions into the stablecoin sector, joining Plasma, a startup focused on stablecoins, as chief strategy officer, according to a report by Fortune.
Activist investor Shah Capital has announced its intention to vote against the re-election of Novavax’s board members and its executive compensation plan at the biotech’s forthcoming annual meeting, escalating pressure on the vaccine maker for strategic changes, according to a. Report by Reuters.
The dispersion trade, a popular options strategy that profits from differences between individual stock volatility and index volatility, posted its worst monthly performance since 2011 in March, according to a report by Bloomberg.
Hedge funds are rapidly closing short positions in US equities at a pace not seen since the market rebound following the March 2020 pandemic crash, according to a report by Reuters citing data from Goldman Sachs.
Hedge funds are increasingly using currency options to bet on gains in the South Korean won and Chinese yuan following news of a US-Iran ceasefire, which has lifted risk sentiment and pushed oil prices lower, according to a report by Bloomberg.
Dovehouse Capital, founded by Danish entrepreneurs Claus Gotthard and Martin Rasmussen, is set to become what the team calls Abu Dhabi’s first locally established hedge fund, and it has big AUM expectations, according to a report by Spear’s.
Eleanor Sharkey, Citadel’s head of business development for international equities since 2022, has left the firm. She played a key role in hiring for the London equities team, though her next move is unclear, according to a report by eFinancial Careers.
The Securities and Exchange Commission has appointed David Woodcock, a partner at Gibson Dunn, to head its enforcement unit, according to a report by the FT. Woodcock previously led the SEC’s Fort Worth office, which faced criticism for its handling of the $7bn Allen Stanford Ponzi scheme.
Hedge funds posted their largest losses since March 2020 as the US-Israel conflict with Iran triggered a spike in oil prices and an historic surge in volatility, coupled with steep declines across equity and fixed income markets, according to data from HFR.
