Latest News
Hedge funds are betting that the US Federal Reserve is nearing the end of its current programme of interest rate hikes and have swung to an overall bearish dollar position for the first time since March, according to a report by Bloomberg.
The report cites data from the CFTC as revealing that leveraged investors switched to a net short position on the US currency of 20,091 contracts in the week ending 7 July, having been long by a net 5,196 contracts in the previous week.
Bloomberg’s gauge of the dollar has dropped 1.6% this year on signs the Fed is
Chinese construction company Kaisa Group Holdings has seen its efforts to restructure its debt become more complicated after Singapore-based hedge fund Broad Peak Investment Advisers filed a winding-up petition against the company in a Hong Kong court, according to a report by Bloomberg.
The report cites a court filling made on Monday as revealing that Broad Peak took the court action over the alleged nonpayment of RMB170m ($24m) of offshore bonds.
Kaisa has responded by saying that it will “seek legal measures to resolutely oppose the petition” and that it plans to continue working with offshore creditors on a restructuring
Derivatives and securities exchange network Cboe Global Markets, has promoted Jill Griebenow to Executive Vice President, Chief Financial Officer and Treasurer, replacing Brian Schell who will be departing the company to pursue a new professional opportunity outside of the exchange industry.
Griebenow will assume the new role beginning 10 July, 2023, after working alongside Schell for the past 12 years.
With more than 20 years of experience, Griebenow has served as Chief Accounting Officer since 2018, a role she will also continue to hold. Prior to that, Griebenow was Chief Financial Officer of Cboe’s European operations, charged with managing the
Verition Fund Management has become the latest hedge fund to announce plans to open an office in Dubai, following a host of other managers who have expanded to the UAE’s financial hub, including BlueCrest, Millennium Management and ExodusPoint Capital Management, according to a report by Reuters.
New York-headquartered hedge fund Millennium Management is planning to expand its operation in India by launching a recruitment drive to fill more than 20 vacancies at its office in Bengaluru, according to a report by The Financial News.
The report cites an unnamed source with knowledge of the matter as revealing that Millennium, which manages around $59bn in assets, currently has 21 open roles in the city.
Vacancies include a Java engineer, a team lead for treasury technology, a compliance surveillance analyst and a quantitative developer, while the firm is also reportedly looking to recruit a quantitative researcher.
In June,
The prospect of political change coupled with soaring inflation, which has pushed Argentina’s benchmark stock index to a record high, have prompted foreign hedge funds to weigh in on the country’s equities market, according to a report by Reuters.
Argentina’s S&P MerVal index hit an all-time high in local peso terms last month, and also hit its highest level since 2018 in dollar terms, having more than doubled in value in the first six months of this year.
With a general election looming large in October, and the prospect of the ruling Peronist alliance being re-elected having been hit hard
Multi-strategy hedge fund major Citadel has continued its hiring spree with the addition of three new money managers to its Ashler Capital long-short equities trading business, according to a report by Bloomberg.
The report cites a spokesman for the $59 billion hedge fund firm as confirming that James Thetford, who previously worked at Point72 Asset Management, and Spencer Schwartz, formerly at Samlyn Capital, joined in June, while Mack Ewing is set to join in October from Sculptor Capital.
Ashler, which is now home to 19 teams of traders, is one of four long-short stocks businesses at Citadel.
The total volume on the global power markets of EEX Group continued on an upward trend in June, rising to a total of 761 TWh, which equates to an additional 112.1 TWh compared to the previous month and an increase of 60% compared to June 2022.
On the EPEX SPOT market, the total volume increased to 58.2 TWh, from 56.9 TWh in May 2023.
Several records were also set on EEX futures markets in June: German power futures reached an all-time high of 399.1 TWh, while Italian power futures also peaked at 47.5 TWh.
Both trading in Japanese (+6%) and
Morgan Stanley has recently lost the services of three operations directors – two MDs and an executive director – with all three leaving the bank to join hedge fund firms, according to a report by eFinancial Careers.
Ashish Srivastava, who was with Morgan Stanley for 12 years in New York, most recently as global head of prime brokerage and margin operations, has left to join Millennium as an operations manager, despite being made an MD at the bank in January last year.
Also in New York, Brian Dorber, an executive director at Morgan Stanley across Asia, Europe and the US
Man Group, the world’s largest listed hedge fund manager, is to acquire Varagon Capital Partners, a US middle market private credit manager with $11.8bn of assets under management and $15.4bn of total client commitments.
