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Two Sigma has told clients that the unauthorised actions of one of its researchers who manipulated the firm’s models in an attempt to boost his compensation, led to gains and losses totalling $620m, according to a report by the Wall Street Journal.
Global law firm K&L Gates has appointed Hazel Doyle as a partner in its Asset Management and Investment Funds practice in Dublin, which advises on a range of investment funds including hedge and private equity funds.
Global law firm Reed Smith has appointed Han Ming Ho as partner in its Global Corporate Group in Singapore. Han Ming’s practice is focused on the structuring and formation of a broad range of investment vehicles including hedge and private equity funds.
Davidson Kempner is one of a number of hedge funds and private equity firms that have taken short positions against corrugated and paper packaging specialist Smurfit Kappa, following the announcement of a proposed deal to acquire US paper company WestRock, according to a report by the Business Post.
Canadian hedge fund firm Traynor Ridge Capital Inc has been issued with a cease trader order by the Ontario Securities Commission following the death of its founder, and three failed trading orders last week, according to a report by Reuters.
Global financial services firm Wilshire is to acquire Lyxor Asset Management, a provider of risk-managed, alternative and hedge fund investment solutions to institutional investors in North America, from European asset manager Amundi.
Odey Asset Management, the hedge fund business founded by Crispin Odey who was ousted in June following multiple allegations of sexual assault and harassment, which he denies, is to close completely, according to a statement on the firm’s website.
Total net assets for liquid alternatives and non-traditional strategies rose to over $400bn during the third quarter of 2023, according to Morningstar’s latest Liquid Alternatives Observer, with all uncorrelated liquid alternative categories posting positive returns.
Global macro hedge funds have switched from the bullish equity bets that have been part of their strategies for most of the year to bearish positions, while commodity trend advisers have upped their short positions, according to a report by Reuters.
US equity long-short hedge fund portfolio managers are taking fewer directional bets, with the level at which swings in the S&P 500 affect their bottom line having fallen to the lowest seen in six years, according to a report by Reuters.
