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A new survey from BNP Paribas has revealed that hedge funds and other money managers are increasingly turning to ChatGPT to help with their marketing efforts and to summarise large reports, according to a report by the Financial review.
The survey found that some forty-four per cent of money managers are now using the artificial intelligence tool in a professional capacity, most commonly to generate marketing text, or to recap regulatory filings, broker research reports, and other large documents.
Some of the managers surveyed also said they would like to use ChatGPT to analyse legal documents.
BNP’s survey covered 39
BlueCrest Capital Management, the family office founded by Mike Platt which is “definitely not a hedge fund”, has continued its recent hiring spree with the addition of two portfolio managers in Singapore, according to a report by eFinancial Careers.
Digital Currency Group, the company that owns cryptocurrency trading, lending, and asset custody platform Genesis, and digital currency asset manager Greyscale Investments, has appointed Mark Shifke as its Chief Financial officer, according to a report by CoinDesk.
Alessandro Balata, Louis Stewart, and Nikita Fadeev, Partners at Fasanara Digital, the crypto arm of Fasanara Capital, discuss trends in the market, the role of off-exchange settlement solutions and the way technology has helped facilitate progress.
Walmart has paid $1.4bn to acquire Tiger Global Management’s remaining stake in Flipkart, in a deal that values the Indian e-commerce giant at $35bn, according to a report by Bloomberg, citing a letter sent by Tiger Global to investors.
A rally in prices across the energy complex, which has seen crude prices climb above $80 a barrel and petrol prices surge to multi-month highs, has prompted hedge funds to up their bullish wagers in the sector, according to a report by Bloomberg.
European credit hedge funds are the most in-demand strategy among investors for the second half of the year, with a net 14% keen to up their allocations by the end of 2023, according to a report by Reuters citing data from a survey by Barclays.
US-based hedge funds sold around $700m in New York-listed shares of Chinese companies during July amid a rally in the country’s stocks, according to a report by Bloomberg citing data from Morgan Stanley’ prime brokerage division.
Concerns over US life insurance company Lincoln National’s exposure to commercial real estate have prompted two hedge funds to wager that the company’s bonds will fall, or that its default risk will increase, according to a report by Reuters.
CoinShares, the European crypto ETP specialist, is planning to launch its first hedge fund open to accredited US investors as part of a wider first-time push into actively managed digital asset products, according to a report by Blockworks.
