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Managed Funds Association has raised significant concerns about the Financial Stability Oversight Council’s Proposed Risk Analytic Framework and Nonbank Designation Guidance Proposal in a comment letter sent to FSOC.
Hedge funds continued their resurgence in Q2, recording positive performance for a third consecutive quarter, with equities and multi-strategy funds once again driving returns to take their YTD weighted average gains to over 10%, according to data from Citco.
Canadian asset management firm Brookfield Corporation is closing down Brookfield Hedge Solutions Advisors, a $1.3bn multi-strategy hedge fund platform within the $825 billion conglomerate, according to a report by Business Insider.
Hedge fund Marshall Wace has made a multi-million pound gain on a bet against NatWest as the bank’s stock tumbled in value following the departure of Chief Executive Alison Rose and Peter Flavel, the boss of private bank subsidiary Coutts, according to a report by The Telegraph.
As regulatory scrutiny intensifies in the cryptocurrency industry, Cboe Global Markets has secured regulatory approval from the US Commodity Futures Trading Commission for clearing margined digital asset futures.
Spain’s first locally regulated crypto hedge fund, which will be overseen by the country’s financial markets regulator, Comisión Nacional del Mercado de Valores has been launched by Spanish private bank A&G, according to a report by Crypto News.
Hedge funds’ net purchases of Chinese stocks accelerated to the highest pace seen in nine months this week as the government revealed plans to stimulate economic growth in the world’s second largest economy, according to a report by Bloomberg.
Point72 topped a list of 14 different financial institutions making a total of 46 Freedom of Information Act (FOIA) requests to the US Food and Drug Administration last month about adverse events and drug-manufacturing-facility inspections, according to a report by Law Street Media.
Bets on shares in AI-related companies, plus wagers on the wider Japanese and US stock markets, helped several Asia-based hedge fund firms outperform their peers during the first half of the year, according to a report by Bloomberg.
The report cites unnamed sources as revealing that the CloudAlpha Tech Fund and the Sino Vision Greater China Market Neutral Fund saw returns of 35% and 25% respectively in the first half of the year on the back of bets on AI-related shares. The Panview Asian Equity Fund meanwhile, racked up a 13% gain driven by Japanese equities.
Those figures put the
Activist hedge fund firm Soroban Capital Partners has succeeded in its efforts to force a leadership change at US rail company Union Pacific (UP) after Jim Vena was announced as the company’s new Chief Executive officer, according to a report by Associated Press.
Vena, a former Chief Operating Officer at UP, was Soroban’s favoured candidate for the role because of his past connection with the business and vast experience gained during a 40-year tenure at Canadian National.
News of his appointment, which takes effect next month, saw the company’s stock jumping by more than 10% on Wednesday to $238.
Soroban,
