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Alternative data specialist QuantCube Technology has launched the QuantCube Industrial Production Indicator (IPI) nowcast – providing a daily update on industrial production output in the US. The indicator measures year on year changes in outputs from the manufacturing, mining, electricity and gas industries to provide insights into total industrial production, a key driver of GDP.
Foreign exchange futures and options at derivatives marketplace CME Group reached a new single-day volume record of 3.15 million contracts on 8 March, 2023, equivalent to $296 billion in USD notional, a 5% increase over thee previous record of three million contracts set in September 2022.
CME Group also reached trading records in several individual currencies, including a record of 1.1 million Euro FX futures and a record 264,000 Canadian Dollar FX futures.
In addition, blocks and exchange for related positions (EFRP) transactions traded a record 274,000 contracts on March 8, a level 23% higher than the previous record set in December 2022.
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Activist hedge fund Oasis Capital Management has delivered an ultimatum to London-listed The Restaurant Group (TRG) – the owner of the Wagamama and Frankie & Benny’s casual dining chains, demanding either a company overhaul or the removal of CEO Andy Hornby, according to a report by the Financial Times.
Polpo Capital Management, a New York hedge fund founded by Daniel McNamara, is betting against the US commercial property market, having notched up a 119% gain with a short debt linked to US shopping malls, according to a report by Bloomberg.
In an interview with Bloomberg, McNamara said that he believes that in the post-Covid world, a large number of older offices will fail to find favour with workers, making them less attractive to occupiers and triggering a wave of defaults.
And McNamara isn’t alone in believing that there is trouble ahead for less desireable workplaces, with Marathon Asset Management
A client note issued by JP Morgan on Thursday has warned that the current hedge fund appetite for European equities may wane on the back of continued rising interest rates and further bond market troubles, according to a report by Reuters.
JP Morgan’s view is that European share prices may have been supported since November by hedge funds covering their short positions, essentially bets that an asset price will weaken, while highlighting that there has been less buying of UK equities.
The note identified equity, multi-strategy, and computer-led and trend-trading hedge funds as those involved in covering short positions and
Angelo Gordon, a $53 billion alternative investment firm focused on credit and real estate investing, has expanded its distressed and corporate special situations platform by raising $1.3 billion the AG CSF2A (Annex) Dislocation Fund.Â
The Prime Meridian Special Opportunities Fund, which invests in the insurance, litigation and specialty credit sectors, has been ranked as by BarclayHedge as the No1 performing hedge fund by compounded annualised return, in the Fixed Income – High Yield category for 2022.
The Prime Meridian Income Fund, meanwhile, which invests in the consumer, small business, real estate and specialty credit sectors, was ranked as the No2 performing hedge fund by Sharpe Ratio, in the same category.
Prime Meridian Capital Management has 23 counterparties, and the funds are valued monthly by a third party valuation agent using a Discount Cash Flow (DCF) methodology.
Zodia Custody (Ireland) Limited has been registered as a Virtual Asset Service Provider by the Commission de Surveillance du Secteur Financier and can now provide virtual asset services for financial institutions in Luxembourg.Â
Hedgeweek has announced the winners of the Hedgeweek European Awards 2023, which recognise excellence among fund managers and service providers in Europe across a wide range of categories.
