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Global macro hedge fund firm Rokos Capital Management has reported double digit losses for March as big market swings during the month, triggered by the banking crisis, hurt some, but not all, hedge fund returns, according to a report by Reuters.
A late month market rally helped equities strategies to small gains, according to investors and industry data.
An unnamed Reuters source familiar with the matter revealed that London-based Rokos ended the month down roughly 15%, taking year to date losses to nearly 9.5%, a sharp contrast to last year’s 51% gain.
Other big-name funds fared better last month including
Hedge fund Hestia Capital Management is pressing for a change of chief executive officer at shipping services company Pitney Bowes, ahead of a strategic review of the company’s e-commerce business, according to a report by the Wall Street Journal.
The activist investor, which is the third largest shareholder in Pitney Bowes with an 8.4% stake, has nominated Lance Rosenzweig to replace Marc Lautenbach, who has served as president and CEO at the firm since December 2012.
Hestia nominated a slate of seven executives for election to the Pitney Bowes board at the company’s AGM earlier in the year, and has
TOP STORY: Hedge fund Farallon Capital Management is planning to launch a proxy fight at biotech Exelixis Inc with the nomination of three directors to the board of the cancer drug maker, according to a report by The Wall Street Journal.
A group of four hedge funds have won their legal case against Argentina over payments due on euro-denominated securities linked to the country’s GDP, leaving the South African republic facing a potential bill of €1.33bn ($1.46bn), according to a report by Reuters.
In a written ruling on Wednesday, London High Court Judge Simon Picken ruled in favour of the four funds – Palladian Partners LP, HBK Master Fund LP, Hirsh Group LLC and Virtual Emerald International Limited – who collectively hold 48% of the GDP securities, saying that Argentina should pay them €643 million plus interest.
In addition, the judge
GMO Financial Holdings, an investment firm focused on crypto and foreign-exchange margin trading businesses, has acquired a 10% stake in multi-strategy crypto hedge fund AWR Capital for an undisclosed sum, according to a report by CoinDesk.
As part of the deal, London-based AWR will become a market maker at GMO Financial Holdings subsidiary GMO Coin, one of Japan’s largest FX and digital-assets exchanges.
In addition, AWR has appointed Phillip Gillespie as managing partner to lead its business development strategy and expand the fund’s operations. Gillespie is an algorithmic trading veteran and former CEO of crypto market maker B2C2.
Drawbridge, a provider of cybersecurity software and solutions to private equity, hedge fund, and venture capital firms, has appointed Chris Aronis as chief revenue officer. Aronis will lead the Drawbridge sales, account management and business development teams.Â
Hedgeweek exclusive: In the past 14 months, there has been a paradigm shift to a market environment not seen since before the Global Financial Crisis, writes David Nazar (pictured), managing partner, Ironshield Capital Management…
While the market sell-off triggered by last month’s SVB/Signature/Credit Suisse banking crisis left many hedge funds nursing losses, Citadel notched up gains across its portfolios during March, according to a report by Reuters.
Hedge fund manager confidence for the coming year was up slightly at the end of Q1 2023, according to AIMA’s 10th quarterly Hedge Fund Confidence Index, produced in partnership with Simmons & Simmons and Seward and Kissel.
As some categories of alternative data mature and become standardised in the investment research process, new research from fintech Exabel with active investment managers and analysts reveals that 76% believe consumer spending data will provide an ‘outsized’ information edge in the near future.
This is followed by 65% who cited web, mobile and app usage data, and 58% who said employment and people moves data.
When it comes to which class of investors or types of investment strategies are seen as the most progressive or sophisticated in their adoption of alternative data, 66% of those surveyed said fundamental-focused funds/strategies, followed
