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A further 15.7% decline in August has left Said Haidar’s Jupiter macro hedge fund nursing a 48% loss for the year so far, and extended the fund’s worst ever period of trading since it debuted over 20 years ago, according to a report by Bloomberg.
ExodusPoint Capital Management, the hedge fund firm founded by Michael Gelband and Hyung Lee, is looking to raise $1bn in new money from investors by the end of the year having reopened to new capital from the first time in three years, according to a report by Bloomberg.
After several years as the top choice for many hedge fund investors, multi-strategy, multi-manager firms including Schonfeld Strategic Advisors, Balyasny Asset Management, and ExodusPoint Capital Management, are trailing the returns of other types of fund, according to a report by Bloomberg.
The current “higher for longer” interest rate environment has created attractive opportunities for credit hedge funds that focus on distressed debt, and boosted profits this year, according to a report by The Financial Times.
With an interest rate decision by the European Central Bank looming large this week, hedge funds have turned more negative on the euro, cutting their net long positions in the currency by nearly 90% in just one month, according to a report by the Business Times.
UK digital assets fintech Gold-i has developed an enhanced multi-asset liquidity aggregation and distribution platform, combining three of its key products into a single platform and incorporating a range of new features.
Hedge funds posted gains in August led by event driven and equity hedge strategies, with the HFRX Event Driven Index gaining +1.10%, and the HFRX Global Hedge Fund Index gaining +0.33% for the month, according to the latest data from HFR.
Hedge funds using computer algorithms to trade market trends are set to benefit from recent falls in US government bonds and the value of the yen to trade market trends, having ended August with bearish positions in both assets, according to a report by Reuters.
Fahad Ghaffar, a longtime business partner of John Paulson in Puerto Rico, has sued the hedge fund veteran alleging Paulson made fraudulent claims to convince him to invest $17m in a luxury car dealership on the island, according to a report by Bloomberg.
Peter Hornick, Head of Business development at $33m global macro hedge fund manager Brevan Howard, and the man responsible for luring top talent to the firm, is leaving the business as part of a corporate rejig, according to a report by Business Insider.
