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Hedge funds have increased their bets against TD Bank Group with short positions against the Canadian lender rising by 45% over the past two weeks to reach $6.1 billion on Wednesday, according to a report by Reuters.
The report cites calculations by data provider ORTEX, as revealing that around 5.5% of TD’s outstanding shares are out on loan to hedge funds betting against the company, while the second-most shorted bank stock, Bank of America, only has $2.9 billion, or 1.2%, worth of short bets.
Analysts are attributing the increase to TD’s planned acquisition of US lender First Horizon, which has
Shanghai Qianxiang Asset Management, a quant hedge fund based in mainland China, is among a number of funds setting up shop in Hong Kong for the first time in a bid to satisfy Chinese investor demand for US dollar-based products and international exposure, according to a report by Reuters.
The ‘fund-flight’ to Hong Kong first began last year following the ending of years of Covid lockdowns with at least eight mainland-based funds having set up operations in Hong Kong in the past six months, according to Reuetrs, and more than 10 others reportedly planning to follow suit.
Shanghai Qianxiang Asset
Hedge fund majors Millennium Management and DE Shaw are both actively hiring technologists in India with a focus on data scientists and data engineers as they ramp up operations in the country, according to a report by ET CIO.
New York-based Millennium, which has over $58 billion in AUM, reportedly has 30 roles open in Bengaluru for technologist, including data engineers, to work in the firm’s fixed income and commodities team.
DE Shaw meanwhile, which manages more than $60 billion in assets, and has recently opened new offices in Bengaluru and Gurugram housing over 300 employees, is also looking for
The Managed Funds Association, the association for the global alternative asset management industry, has opened its first UK office in London, which will be led by James Martin as managing director, head of UK government affairs.
The macro-economic environment is driving investors to batten down the hatches in an effort to preserve capital. Greg Branch, Partner and CIO at SCIO Capital details what this defensive stance means for investors.
Navigating the volatile environment while delivering accurate, timely data to clients is critical for hedge fund managers to succeed in these challenging times. Declan Quilligan, Head of Hedge Fund Services, Citco Fund Services (Ireland) Ltd. discusses the areas of growth and pressure these managers are facing.
Following last month’s banking sector woes prompted by the demise of SVB, Signature Bank and Credit Suisse, Paul Marshall, founder of hedge fund Marshall Wace, has warned investors that commercial real estate could be the next sector to experience market jitters, according to a report by Bloomberg.
In letter to investors seen by Bloomberg, Wace highlighted that while the collapse of SVB was swiftly contained, lenders have gone into “self preservation mode” and that lending in general will now be even harder to access in a “zombified banking system”. According to Marshall, commercial real estate is under particular strain from
Ray Dalio, founder of hedge fund giant Bridgewater Associates, is to open a branch of his family office in Abu Dhabi as part of the wider expansion of his operations in the Middle East, and the United Arab Emirates (UAE) in particular, according to a report by Bloomberg.
Nickel Digital Asset Management, a London-based digital assets hedge fund manager founded by Bankers Trust, Goldman Sachs, and JPMorgan alumni, says it is achieving significant outperformance during a wider recovery in the digital assets space.
Several hedge funds have recently made changes to their positions in the Japan Smaller Capitalisation Fund, with the fund seeing overall growth in short interest during March to 11,800 shares at the end of the month, an increase of 26.9% from the 15 March total of 9,300 shares.
