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Global macro specialist Brevan Howard has confirmed it is opening a new office in Abu Dhabi, having leased space at the Al Sarab Tower for more than one hundred people, and is relocating several senior executives from across the business to lead this expansion.
Hedge funds’ strong performance in January has been backed by numbers from another provider, with Bloomberg data providing more evidence that funds caught the upswings in equities and cryptocurrencies.
New research from quant technology provider SigTech, drawing on data from Preqin and insights from various hedge fund managers, reveals that roughly 30,000 hedge funds are currently operating globally. The US dominates the industry with a market share of 65%, followed by the UK (8.8%) and Hong Kong (3.5%).
The proportion of overall hedge fund assets attributed to hedge fund investments fell to the lowest level seen in five years at the end of 2022, according to a report by Reuters, citing research by Goldman Sachs.
London-based hedge fund Oceanwood Capital Management has made around $150 million from a bet on bankrupt Norwegian newsprint manufacturer Norske Skog ASA, nearly five years after it bought the business out of bankruptcy, according to a report by Bloomberg.
Cboe Global Markets, a provider of global market infrastructure and tradable products, is to launch the Cboe One Options Feed, on 1 March, 2023, subject to regulatory approval, providing a real-time view of US options pricing derived from the largest US options exchange operator.
Asia-focused hedge funds posted a 5.3% gain in January, their best monthly performance since 2016, as the share prices of Chinese companies rebounded strongly following the lifting of strict ‘zero Covid’ restrictions, according to a report by Reuters.
Hedge funds Scion Asset Management, the firm run by “Big Short” investor Michael Burry, Farallon Capital Management, and Coatue Management are among the big name firms who made large bets on Chinese companies in January, ahead of the country abandoning its ‘zero Covid’ restrictions, according to a report by Reuters.
The report cites the lates 13F securities filings released on Tuesday as revealing that Burry, who famously bet against the US sub-prime mortgage market which triggered the 2008 financial crisis, acquired 75,000 shares in Chinese e-commerce company JD.com Inc and 50,000 shares in Chinese tech giant Alibaba.com.
Coatue meanwhile, acquired
Bridgwater Associates, the hedge fund firm founded by Ray Dalio, almost tripled the size of its bets on both GameStop and AMC during the final quarter of 2022, according to a report by Business Insider India.
The report cites the latest 13F regulatory filings as showing that Bridgewater almost tripled its holding in GameStop to 39,000 shares, although a 28% fall in the video-game retailer’s stock over the period meant the value of the stake only doubled to $712,000.
The firm also nearly tripled the size of its AMC stake to around 64,000 shares, increasing the value of the wager by 74% to $261,000.
SteelEye and LeapXpert have partnered to help financial firms combat the risks associated with the use of unauthorised communications channels. The moves comes as the SEC recently stepped up its probe into the use of messaging platforms such as WhatsApp at big name hedge funds including Point72 Asset Management and Citadel.
Last year, $2 billion in eComms fines were handed out to Wall Street firms for failures in preventing employees from communicating on channels that were not being monitored for compliance with FCA, ESMA, SEC, FINRA, and CFTC rules aimed at detecting insider trading, unlawful information sharing, and other forms
