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Hedge fund managers and their investors need to adapt to volatility while achieving capital and liquidity efficiency across all asset classes. Jurrie Reinders (pictured), Head of Prime Services, Clearing and Cross Asset Secured Financing, Europe at Societe Generale, talks about how the firm is supporting clients through a number of different solutions.
Man Group CEO Luke Ellis has announced his intention to retire with Robyn Grew, currently president of the group and a member of the company’s Senior Executive Committee, set to succeed him. Based in the US, Grew has spent the past 14 years at Man Group.
Shares in Carl Icahn’s hedge fund slumped by 20% on Wednesday after the firm revealed that federal prosecutors requested documents from the company just a day after Hindenburg Research took a short position on the firm, according to a report by the New York Post.
The report cites a filing made with the Securities and Exchange Commission on Wednesday that the US Attorney in the Southern District of New York contacted Icahn Enterprises on 3 May “seeking production of information” about its corporate governance as well as “capitalization, securities offerings, dividends, valuation, marketing materials, due diligence, and other materials.”
Icahn
Multi-strategy hedge funds Citadel and Balyasny are both recruiting for their Hong Kong operations and, as has become fairly commonplace over the past year, it’s Goldman Sachs and JPMorgan they are looking to in their search for top talent, according to a report by eFinancial Careers.
In April, Citadel appointed Alan Au, a former executive director and head of Asia Pacific equities and Hong Kong entities market risk coverage at JPMorgan, as head of its Asia Pacific portfolio construction and risk group. Au spent over 13 years ay JPMorgan before making the switch to the $62 billion hedge fund firm.
Having bought discounted bank equities in March during the market turmoil triggered by the collapse of Silicon Valley Bank and Signature Bank, hedge funds reduced their exposure to financial stocks in April, according to a report by Reuters.
Veteran hedge fund manager Sushil Wadhwani has warned that a deeply divided US Congress may push the country to the brink of a default and credit downgrade before it resolves its current standoff over the debt ceiling, according to a report by Bloomberg.
Speaking on Bloomberg TV, Wadhwani, the chief investment officer for PGIM Wadhwania and an advisor to UK Chancellor Jeremy Hunt, said it may take a market shock worse than that seen in 2011 to “get these folks to agree”.
Rates on short-dated bills have soared and contracts against a default over the next year are trading at
The ‘Great Resignation’ has had big impact on hedge fund IT management strategies with 87% of firms looking to increase outsourcing due to high employee turnover and increased labour costs, according to the latest edition of Hedge Fund Managed IT Trends Report from IT and cybersecurity provider Agio.
The report, which is based on a survey of over 100 hedge fund practitioners spanning the technology, operations, cybersecurity, compliance, and finance fields, exploring how economic and employment trends are shaping their technology management practices and preferences, also reveals that 55% of firms that currently outsource their IT intend to increase outsourcing
The Managed Funds Association, the trade association for the global alternative asset management industry, has appointed Rachel Grand as vice president and senior counsel, based in the association’s New York office.
With recent research indicating the global cryptocurrency market size will grow from $4.67bn in 2022 to $12.10 billion by 2030, the landscape of cryptocurrency trading exchanges is constantly evolving. Lan Yue, co-founder & COO of BIT, outlines three key emerging themes that are likely to shape the future of these platforms…
On-going bouts of market volatility coupled with the current turmoil in the banking sector have seen global hedge fund launches slump to the lowest level seen since 2017, according to a report by Reuters, citing information from data services provider Preqin.
