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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,
Point72 Asset Management, the $27.2bn hedge fund firm founded by Steve Cohen, has continued its recent hiring spree with the addition of portfolio managers in both New York and London, according to a report by eFinancial Careers.
Siddharth Mehla joined the fund’s New York office this month having spent the previous 17 years at Barclays, most recently as an options trader. Mehla, a graduate of the Indian Institution of Technology, was part of Barclays 2019 class of managing directors.
Neil Tanna, meanwhile, joined Point72 earlier this month in London from Balyasny, where he was an associate portfolio manager focused on
Advantage Futures, one of highest volume clearing firms in the futures industry, has partnered with Validus, a global provider of multi-asset class trade surveillance, market risk and algo monitoring solutions, to meet its trade surveillance needs.
The Validus platform is used widely throughout the futures industry and other asset classes.
Validus’ use of automation, including machine learning, is aimed at speeding up alert triage and ensuring the most actionable alerts are escalated for further investigation. The platform handles alert generation covering billions of messages per day, around the clock, providing comprehensive coverage across trading flows.
TMR Capital, a British Virgin Islands-based activist investment hedge fund, firm wants to see the break-up of Wagamama owner The Restaurant Group, and is eyeing a bid for two of the company’s four divisions, according to a report by The Telegraph.
Converium Capital, a hedge fund firm founded by former Fir Tree partners Aaron Stern, and Elliot Ruda, and ex-Clarke executive Michael Rapps in 2021, is sticking with its bet on El Salvador bonds, despite the debt posting a 180% return over the past year, according to a report by Bloomberg.
M1 Capital, a South Africa-domiciled specialist equity hedge fund investment firm, is suing its prime broker Credit Suisse for $100m over an allegedly incorrect margin call, according to a report by Financial News.
In its claim, M1 alleges that Credit Suisse made an incorrect margin call which triggered the sale of stock that the hedge fund had pledged as collateral.
The firm is seeking $108m in compensation to cover the value of the shares sold in the margin call made in 2020, which it says the bank had incorrectly calculated and was not due.
