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Concerns over a slowing Chinese economy dragged the Aussie dollar to a nine-month low, just as hedge funds were turning the most bullish they have been on the currency so far this year, according to a report by Bloomberg.
Crypto asset trading platform Bittrex, and its co-founder and former CEO, William Shihara, have agreed to pay $24m to settle Securities and Exchange Commission charges that they operated an unregistered national securities exchange, broker, and clearing agency.Â
NWQ Capital Management, a Perth-based hedge fund that numbers Reserve Bank governor Glenn Stevens among its investment committee members, has had its licence suspended by the The Australian Securities and Investments Commission (ASIC) for holding insufficient assets, according to a report by The Financial Review.
Thousands of smaller China-based hedge fund managers are expected to shut up shop while their larger peers will be subject to stricter regulations as part of a shake-up of the RMB6tn ($832bn) sector, according to a report by Bloomberg.
Freddie Neave, who took over the management of Odey Asset Management’s European Inc fund following the departure of  the firm’s founder Crispin Odey, has dropped the fund’s short positions against UK government bonds, according to a report by Reuters.
CJ Lanktree, who ran distressed debt trading for Deutsche Bank between 2003 and 2012, is back in a similar role at the bank, running its US distressed business, after parting company with hedge fund Solus Alternative Asset Management, according to a report by eFinancial Careers.
Daniel Loeb, the Chief Executive Officer of hedge fund Third Point Management, has entered into a standstill agreement with SiriusPoint whereby he will hold off on attempts to take the Bermuda-based specialty insurer and reinsurer private for two years.
Pictet Asset Management has expanded its $9bn actively managed Total Return franchise with the launch of the Lotus Offshore Fund Ltd, an event-driven, special situations Asia Long/Short equity fund, offered as a quarterly-dealing Cayman-domiciled strategy.
The Noble Absolute Return ETF (NOPE), an exchange traded fund launched by hedge fund veteran George Noble in September last year to provide “access to strategies that are typically not available to average investors”, is to liquidate after less than a year, according to a report by Bloomberg.
TOP STORY: Saba Capital Management, the hedge fund firm founded by Boaz Weinstein, has seen its flagship hedge fund rack up losses of 7.7% so far this year after bearish bets backfired amid the recent stock market rally, according to a report by The Financial Times.
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