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Standard General is suing the US Federal Communications Commission over its decision to hold hearings into the hedge fund’s planned $5.4 billion acquisition of TV station operator Tegna, according to a report by Reuters.
New York-based hedge fund firm Mass Ave Global, has written to investors informing them that it has decided to liquidate its China and Asia-focused funds and close its office in Hong Kong, according to a report by Reuters.
In a letter to investors in the firm’s flagship Mass Ave Global Partners fund, seen by Reuters, the firm wrote: “After careful consideration, we have determined that it is in the best interest of the master fund, the offshore fund and the US fund that all investors will be compulsorily redeemed and withdrawn.”
While not specifying a reason for the fund closures,
Dutch chemicals producer OCI is to hold a strategic review of its business after Inclusive Capital Partners, the activist hedge fund firm founded by Jeff Ubben, urged the company to consider asset sales to boost value, according to a report by Bloomberg.
In a telephone interview with Bloomberg on Tuesday, CEO Ahmed El-Hoshy said OCI will “examine all potential suggestions” proposed by Inclusive, which holds a 5% stake in the business.
In a letter seen by Bloomberg to OCI executive chairman Nassef Sawiris on Tuesday, Ubben said that he believes the €6.1 billion company is “both misunderstood and under-analyzed,” and
Extracting accurate data is one of the biggest reconciliation challenges buy-side investment managers face just over a year out from T+1 for US equities, according to new research from Gresham Technologies, in association with WBR Insights.
In a survey of 200 heads of investment operations across global asset managers, fund administrators and hedge funds, 55% cited extracting the right data points accurately and efficiently as one of the three biggest reconciliation challenges.
A staggering 90% confirmed that their number of external data feeds increased in the last 12 months. With so much information to sift through, it is hardly surprising
Alternative data analytics firm QuantCube Technology has launched the QuantCube Core CPI Nowcast indicator for the US economy, which quantifies core inflation by measuring changes in the prices of goods and services.
The indicator excludes the food and energy components included in the broader Consumer Price Index, which are generally more volatile, and is designed to provide a clear picture of long-term inflation trends in the US. The indicator provides real-time insights on core inflation significantly ahead of official numbers published monthly.
The QuantCube team applied a fundamental approach to construct the new core CPI indicator – collecting and
OpenFin, the financial sector’s first common operating system, and the self-styled “OS of enterprise productivity”, has partnered with Dow Jones to integrate news, insights and analysis into desktops at banks, and asset and wealth management firms.
Under the new partnership, financial firms and professional subscribers can access Dow Jones Newswires’ news, real-time alerts and editor-curated top stories directly within the OpenFin Workspace platform. Dow Jones’ premium, real-time services also include content from The Wall Street Journal, Barron’s, MarketWatch and Investor’s Business Daily.
Acceding to OpenFin, this content will interoperate with other applications and information sources, providing a personalised, contextualised
Credit Suisse’s ‘rescue’ by rival UBS means that a lot of the Swiss bank’s employees may soon find themselves looking for new employment opportunities, but ex-Credit Suisse credit researcher Alexia Mignon has already found a new home with hedge fund Point72.
According to her LinkedIn profile, the French national, who has been working in the UK since 2017, has joined the London office of Steve Cohen’s $27.2 billion firm as a long/short credit analyst after less than two years at Credit Suisse.
Prior to Credit Suisse, Mignon began her career with Bank of America Merrill Lynch in London in 2017
Activist hedge fund Elliot Investment Management has decided not to proceed with its planned director nominations at Salesforce Inc, after a rise in the company’s stock price and the initiation of a series of strategic changes at the enterprise software firm, according to a report by Bloomberg.
Global hedge funds’ exposure to US banking stocks has hit a near 10-year record low as the turmoil in the sector triggered by the demise of Silicon Valley Bank and Signature Bank, and the ‘rescue’ of Credit Suisse by rival UBS, prompted managers to sell their positions, according to a report by Reuters.
The report cites Goldman Sachs’ prime services weekly report as revealing that investors have also cut their exposure to credit to the lowest level in nearly five years as concerns over a potential credit crunch have grown.
“Financials were net sold in eight of the past nine
The prospect of a recession driven by tighter credit conditions following recent turmoil in the global banking sector, prompted hedge funds and other money managers to sell oil-related futures and options contracts at the fastest rate for almost six years, according to a report by Reuters.
The report cites records published by ICE Futures Europe and the US Commodity Futures Trading Commission as revealing that traders sold the equivalent of 142 million barrels in the six most important contracts in the seven days ending on 21 March, after selling 139 million barrels in the week to 14 March, with total
