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Dan Loeb, the founder of activist hedge fund Third Point Management, has acquired a passive stake in multinational semiconductor manufacturer AMD, according to a report by CNBC.
The report cites unnamed sources as revealing that Loeb took up the position when shares in the chipmaker were struggling.
AMD’s stock underperformed the rest of the sector over the last 12 months, with a fall of more than 30% versus a 14% decline in the PHLX Semiconductor Index. A 21% rebound this year has coincided with the reopening of China’s economy following the end of the country’s ‘zero Covid’ restrictions.
Gramercy Funds Management, a $5 billion investment manager focused on emerging markets, has appointed Tom Humphrey to the newly created role of President. Bill Foley will also be joining the firm as a managing director and senior member of the Gramercy Business Development Team.
Bybit, the world’s third most visited crypto exchange, has partnered with Talos, an institutional digital asset trading technology specialist, to provide ‘streamlined’ access to institutions looking to get into the crypto space via the Talos platform.
The integration combines Talos’s trade infrastructure solutions with Bybit’s access to a wide array of digital assets and enterprise solutions, including trading execution with precision.
Additionally, this new collaboration will boost real-time liquidity.
Bybit experienced steady growth in market share throughout 2022, claiming the no2 spot in futures and perpetuals trading several times year to date. In January alone, Bybit recorded its
McKay Brothers has deployed the lowest latency private bandwidth from Aurora, Illinois to Toronto. McKay’s newest route connects the futures markets at the CME with the cash equity markets of TMX in Toronto in less than 4.3 milliseconds one way.
McKay’s sister company Quincy Data offers select CME data at TMX. The Quincy Extreme Data (QED) service distributes equity indexes, energy and metals futures at the lowest latency.
McKay’s wireless networks have been live in North America since 2012, Europe since 2014 and Asia since 2016. The company’s transpacific network went live last year, connecting the CME with trading
Fintech specialist Broadridge Financial Solutions, has appointed Wout Kalis as Head of Asia Pacific for Broadridge Asset Management Solutions. As well as driving growth and product expansion, Kalis will oversee day-to-day operations and provide senior asset management leadership in the region.
Kalis has extensive regional leadership experience in the fintech and fund administration spaces in APAC. Most recently, he served as Regional Head of Alternative Investment Services for BNY Mellon with responsibility for building out the company’s footprint in Asia.
He has also served in leadership positions at SS&C, Citibank, HSBC, and Citco.
Broadridge’s modular suite of asset management
Hedgeweek has announced the winners of the Hedgeweek US Digital Assets Awards 2023, which recognise excellence among fund managers and service providers in the digital assets space.
Voting for the awards, which were presented today (2 March) at an exclusive ceremony and networking event at Convene, on Park Avenue in New York, was conducted via an online poll of the entire Hedgeweek userbase, where participants were asked to make their choice among the shortlisted firms in each category.
The manager categories cover crypto and other digital asset strategies, while the service provider categories span all the key and evolving areas
Bridgewater Associates is planning to cap the size of its flagship hedge funds, invest more in artificial intelligence and machine learning, and cut up to 100 jobs, as part of a restructuring plan aimed at boosting returns, increasing profitability and developing new sources of revenue, according to a report by Bloomberg.
CEO Nir Bar Dea, who took over running the business after founder Ray Dalio stepped down five months ago, disclosed the changes in an email on Wednesday to employees and clients, shifts that he said were necessary to “align with our strategic direction.”
In the email Bar Dea said:
London-based hedge fund Fasanara Capital has teamed with an investment bank focused on sports-related investments to create a new product that aims to make a profit from the player transfer market, according to a report by Bloomberg.
Cinctive Capital Management, an alternative investment multi-manager platform, has launched a new global long-short quantitative trading strategy which will be overseen by Thong Nguyen, founder and chief investment officer of Olympiad research as part of a multi-year exclusive agreement between the two firms.
Hedge funds got the year started on an upbeat note, with over three quarters of all funds (78.2%) administered by Citco delivering positive returns in January. Overall, funds achieved a weighted average return of 3.6%.
All types of strategies saw positive performance, apart from Commodities, with a -0.3% decline.
Event Driven funds performed best at 6.7%, followed closely by Multi Strategy at 4.4%, Equities at 3.6% and Fixed Income Arbitrage at 3.3%.
Positive gains were seen across all AUA categories, with funds of $1 billion to $3 billion achieving the highest weighted average return of 4%, followed by the $3
