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Hedge funds delivered another month of positive performance in May, although performance dipped month-on-month, with a total weighted average return of 0.4%, according to the latest data from hedge fund administrator Citco.
Net inflows into funds based in the Americas and Europe continued in May, while funds situated in Asia once again saw outflows. Overall, net inflows in May reached $1.9bn, almost four times’ April’s total of $0.5bn, as subscriptions of $7.1bn came in well ahead of redemptions totalling $5.2bn.
A total of 48% of the funds administrated by Citco had positive returns in May, dipping from 65% in
A rift between the co-founders of New York-based hedge fund Two Sigma Investments over the firm’s organisation and succession plan, as well as a host of other disputes, could pose a risk to the firm and its clients, according to a report by the Wall Street Journal.
Sona, the credit hedge fund founded by former Highbridge Capital head European credit, John Aylward, has appointed Barclays PLC’s co-head of global leveraged finance syndicate Stephen Smith, to the newly-created role of head of capital markets, according to a report by Bloomberg.
The report cites a spokesperson for the firm as confirming that Smith is set to join Sona in London and is expected to take up his new position around September.
According to Aylward, Smith: “brings a wealth of experience in the European Leveraged Finance markets and will deepen and broaden Sona’s existing capabilities in a market offering tremendous
The London Metal Exchange had better options than canceling billions of dollars in nickel trades in March last year when prices skyrocketed, lawyers for Elliot Associates and Jane Street Global Trading told a London court yesterday, according to a report from Reuters.
Clear Street, an independent, non-bank prime broker, has hired Kevin McCarthy as the firm’s first chief administrative officer and head of clearing, reporting to co-founder and chief executive officer Chris Pento.
The European Energy Exchange is to acquire Nasdaq’s European power trading and clearing business, subject to receipt of customary regulatory approvals. Financial details of the deal have not been disclosed.
Finalto, a specialist in multi-channel trading software, systems and liquidity services for hedge funds, brokers and other financial institutions, has appointed Kenneth Lim as the firm’s new head of liquidity Asia.
Lim has a wealth of experience in the financial industry, particularly in working with institutional investors and prime brokerage services in diverse markets including FX, Futures, and Crypto.
Lim joins Finalto after a year at Singapore-based institutional credit network Hidden Road, where he was client success director to help institutional investors access crypto, FX, and futures through prime brokerage services.
His career includes senior roles at Orient Futures International,
Torstone Technology, a global SaaS platform provider for post-trade securities and derivatives processing and risk management, has appointed Neil Mardon as the company’s new chief financial officer (CFO). Mardon is also joining Torstone’s Board of Directors.
Mardon previously served as CFO and later COO at Daiwa Capital Markets Europe, where he spent over a decade leading transformation initiatives. His responsibilities included remediation of operational challenges, enhancement of the senior leadership team with a focus on diversity and inclusion, delivery of a significant cybersecurity change program, and management of the FCA Operational Resilience model changes.
A chartered accountant with over 30
The Bank of England has launched the first stress test for hedge funds, pension funds and other financial firms as it looks to glean insight into how they would behave under pressure and how this could threaten the UK’s financial stability, according to a report by Bloomberg.Â
Protium Capital, a hedge fund firm founded by former Hillhouse Capital Management fund manager Lu Ning, has raised between $100 million and $150 million for a new long-short equity fund, making it one of the largest China-focused hedge fund launches so far this year, according to a report by Reuters.
The fund, which is due to begin trading in July, has attracted seed money from Hillhouse founder and billionaire investor Zhang Lei, as well as commitments from business owners, financial institutions and family offices from China and Asia. It is expected to focus on investments in the tech, industrial and
