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The efforts of central banks around the world to tackle inflation have failed to have a meaningful impact, and threats to the broader global economy remain, according to a report by Reuters citing comments from Man Group Chief Executive Luke Ellis.
Hedge funds posted mixed performance in May as banking volatility evolved throughout the month following the closure and acquisition of First Republic Bank by JPMorgan. While Financials and Energy declined, Technology and AI surged through May.
The HFRI 500 Fund Weighted Composite Index declined -0.2%(estimated) in May as managers navigated banking, energy and (primarily positive) technology volatility with performance led by Relative Value Arbitrage and Macro strategies.
The HFRI Fund Weighted Composite Index (FWC) posted mixed performance in May, also declining -0.2%, as modest gains in Relative Value strategies were offset by declines in Event-Driven strategies, according to data released
New York-based multi-strategy hedge fund firm Schonfeld has continued its hiring spree with senior appointments on both sides of the pond – portfolio manager Andrew Prentice in London, and head of business analytics Amit Gupta in the Big Apple, according to a report by eFinancial Careers.
Prentice, an Oxford-educated physicist, was most recently an executive director at Goldman Sachs, working in European government bond trading. He previously worked for Deutsche Bank and Barclays.
Gupta meanwhile, was previously a vice president at rival hedge fund AQA and was most recently in crypto as a quantitative trader at quant fund GTS Digital.
Rob Luciano, the founder of Australian hedge fund firm VGI Partners, is taking a ‘sabbatical’ from the business one year after his firm completed a merger with Phil King’s Regal Funds Management, according to a report by the Financial review.
The combined, ASX-listed group, operates as Regal Partners but has retained the VGI name on several funds including two listed products. The report cites unnamed sources as saying that Luciano is expected to inform investors in the two funds of his decision to take an initial three-month break via webinar.
VG1 Global Investments, the largest of the two listed funds
Oliver Jacomb, head of prime brokerage sales for Europe, Middle East and Africa at BNP Paribas, has become the latest former Deutsche Bank executive to leave the bank after the French lender acquired its rival’s prime business, according to a report by Reuters.
The deal, which was first announced in 2019 and completed at the end of 2021, saw some 900 staff transfer from Deutsche as part of a plan by BNP to expand its offering to hedge funds and buyside clients.
Jacomb’s decision to quit follows news last week of the departure of another former Deutsche Bank exec –
SS&C Technologies Holdings now has more than 150 clients using its Trade Matching & Settlements Service to support post-trade execution functions. The growth comes as the US funds industry gears up for trade settlement cycles shortening to T+1 in 2024.
The Trade Matching & Settlements Service fully supports post-trade execution functions such as trade matching/affirmation, trade communication and settlements/fails management.
Available as a stand-alone service or in conjunction with other SS&C fund services, SS&C’s solution automatically integrates with numerous matching platforms, supports multiple formats of trade instructions delivery and captures real-time settlement statuses from custodians and prime brokers. SS&C
Digital asset investment products saw outflows totalling $62m last week, marking the seventh week of outflows which now total a combined $329m, according to the latest Digital Assets Fund Flows Weekly report from CoinShares.
Tron, the smart contracting platform, was the primary focus, seeing outflows totalling $51 million last week.
According to CoinShares, recent outflows are the result of investors taking profits and exiting short positions rather than representing a structural downshift in sentiment for bitcoin.
Forming local partnerships is key to achieving operational excellence and continuous improvement in food and agriculture investments. Colin Butterfield (pictured), CEO of Solum Partners outlines the firm’s differentiated approach to investing in this sector.
US hedge fund Citadel’s portfolios all made money in the first five months of the year with the firm’s flagship portfolio leading the way with a 6.14% return to the end of May, according to a report by Reuters.
US hedge fund Citadel’s portfolios all made money in the first five months of the year with the firm’s flagship portfolio chalking up a return of 6.14% to the end of May, according to a report by Reuters.
