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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.
James Beeston, a former managing director and co-head of EMEA prime brokerage at Morgan Stanley who joined London-based hedge fund Marble Bar in March 2023, has quit the firm after just three months, according to a report by eFinancial Careers.
Activist investor Hestia Capital Management has had four of its five director candidates elected to the board Pitney Bowes following a campaign criticising the century-old shipping-services company’s capital allocation and lagging share price, according to a report by Reuters.
As well as the four candidates proposed by Hestia, which is the company’s third largest shareholder with a 9.1% stake, Pitney Bowes said a preliminary vote count showed that shareholders had also re-elected three other directors, including current chief executive Marc Lautenbach, and selected two directors nominated by the company.
Hestia has been agitating for Pitney Bowes to explore alternative strategies
The Managed Funds Association has submitted a comment letter to the US Securities and Exchange Commission calling for the proposed custody rule to be withdrawn and only re-proposed after addressing fundamental flaws with the proposal and conducting a thorough cost-benefit analysis.
Digital asset investment products saw outflows totalling $54 million last week, representing the third consecutive week of negative sentiment for the asset class, according to the latest Digital Assets Fund Flows Weekly Report from CoinShares.
Bitcoin saw $32 million of outflows last week, despite sentiment in the US turning markedly positive, with inflows of $18 million, and short-bitcoin seeing the largest weekly outflows on record of $23 million.
Blockchain equities also endured weaker sentiment last week, seeing outflows totalling $7.3 million.
Emerging alternative investment managers are prioritising the acquisition of top talent, and investments in third-party data providers and technology platforms as they look to grow their businesses in 2023, according to a new report by alternative investments fintech Dynamo Software.
