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TOP STORY: The Internal Revenue Service has one upped the hedge-fund and asset-management industries in a case that could bring higher taxes for many fund managers, according to a report by the Wall Street Journal. The ruling in question could require managers to pay self-employment taxes of more than 3% on much of their income
3iQ Digital Assets has announced a significant advancement in the digital asset management space. The company has launched the industry’s first comprehensive suite of crypto hedge fund managed accounts through the 3iQ Managed Account Platform (QMAP). The platform will launch with $50m of capital from 3iQ and institutional investors.
Walt Disney Co. appointed Morgan Stanley Chief James Gorman and veteran media executive Jeremy Darroch to its board of directors ahead of an expected proxy fight with Trian Fund Management, according to a report by Bloomberg. This comes as billionaire Nelson Peltz and his Trian Fund Management are planning their own nominees to the board next year.
Hedge funds that pivoted from China to Japan in 2023 have struggled to make money, according to a report by Reuters. The report notes that even though Japan is the third largest economy, fund managers have struggled to make sense of the market.Â
Irradiant Partners, an alternative investment manager with over $10bn in assets under management, announced the closing of $411m in commitments on the third vintage of the Irradiant CLO equity strategy.
TOP STORY: Despite investors limiting their exposure to the Chinese market, computer based funds still see plenty of opportunity in China, according to a report by The Financial Times.Â
Ogier’s corporate, fiduciary and fund administration services business Ogier Global has appointed David Fowler as European Head of Fund Administration, as the business continues to expand its broad range of services for international fund managers.
Inclusive Capital Partners, the fund founded by Jeff Uben, is closing down after a three year run. The activist investor has decided to close down the firm after it struggled to raise new cash, according to a report by Reuters.Â
Hedge funds and other money managers have only the equivalent of 3 million barrels in the six most important petroleum futures and options contracts in the week up to Nov 21, according to a report by Reuters.
Activist Investor, Anson Funds has acquired a controlling stake in software firm Twilio, and is pressuring the firm to sell of either its entire business or two of its units, according to a report by CNBC.Â
