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Just two months after predicting a major rebound in the domestic real estate sector, Chinese macro hedge fund Shanghai Banxia Investment Management Center, has slashed its holdings in property stocks on the back of an ongoing decline in values, according to a report by Bloomberg.
The report cites an investor letter seen by Bloomberg as revealing that the firm’s flagship Banxia Macro Fund slumped 9.8% in May, the biggest monthly loss since at least 2018, after it sold property-related shares and cut commodities positions.
The pivot by Banxia, which was among the most bullish investors in April, supports the view
Hedge fund DE Shaw has become the second large Diversified Healthcare Trust shareholder to oppose the real estate investment trust’s merger with Office Properties Income Trust and is pushing the board to pursue better alternatives, according to a report by Reuters.
The report cites a regulatory filing made on Monday as revealing the DE Shaw, which owns a 6.1% stake in Diversified Healthcare Trust, told the company privately last month that it planned to vote against the deal.
Representatives of DE Shaw have also reportedly met twice with board members of Diversified Healthcare Trust, demonstrating a “willingness to work constructively”
A “complete rebrand” is on the cards at Odey Asset Management according to partners at the firm following the departure of founder Crispin Odey in the wake of a string of allegations of sexual misconduct levelled against him, according to a report by Portfolio Adviser.
In a joint report published by The Financial Times and Tortoise Media last week, 13 women alleged Odey sexually assaulted or harassed them over a period of 25 years, prompting his departure from the firm he founded in April 2011. Odey denies the allegations.
Having announced over the weekend that the firm had severed “personal
Aaro Capital, a cryptoassets and DLT investment specialist, has appointed Saul Benjamin as chief operating officer. Benjamin, who has over 20 years of experience in alternative asset management and institutional client relationships joins Aaro’s London-based team and will report to CEO Peter Habermacher.
Prior to joining Aaro Capital, Benjamin served as the global chief operating officer at Investcorp-Tages, overseeing the company’s multibillion-dollar alternative asset management operations. He has also held executive positions at Tages Capital LLP, Tarchon Capital Management, and Pamplona Capital Management.
Benjamin holds a degree in Economics and Social Studies from the University of Manchester and is a
Digital asset investment products saw outflows totalling $88 million last week, bringing this current eight-week negative run to $417 million, according to the latest Digital Asset Fund Flows Weekly Report from CoinShares.
CoinShres says the continued outflows are likely related to monetary policy, with that fact that there is currently no clear end in sight to interest rate rises leading to caution among investors.
Ether saw outflows of $36 million, the largest single week of outflows since the Merge. Altcoins meanwhile, have seen inflows year-to-date, in stark contrast to both bitcoin and ether.
Having severed “personal and economic” involvement with founder Crispin Odey on Saturday following last week’s allegations of sexual misconduct, Odey Asset Management Partnership has said Freddie Neave (pictured), James Hanbury, and Oliver Kelton will now head up the firm’s key funds.
Man Group’s discretionary investments unit Man GLG, has gone “underweight” on China after cutting holdings there since January, and pursuing investment opportunities in India and artificial intelligence instead, according to a report by Reuters citing a senior Man GLG fund manager.
The Federal Reserve’s interest rate battle to curb inflation may have some way to run yet, according to a report by Bloomberg, with hedge fund managers extending their record run of short sales of short-dated US Treasuries.
The report cites the latest data from the Commodity Futures Trading Commission (CFTC) as showing that leveraged investors boosted their net-short two-year Treasury positions for an eleventh straight week in the period to 6 June, marking the longest short-run on record, according to data going back to 2006.
A series of aggressive rate hikes has helped to relieve price pressures in the US,
Hedge funds have upped their bullish bets on oil following Saudi Arabia’s surprise move to cut one million barrels a day of its own output in a bid to “stabilise” the market, according to a report by Bloomberg.
GoldenTree, a US-based opportunistic, credit-focused hedge fund that owns Travelodge, is to put the budget hotel chain up for sale with £1 billion-plus price tag, according to reports by The Guardian and The Telegraph.
