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Verde Asset Management, one of Brazil’s best-known hedge fund managers, has been hit by what its says is the biggest case of Brazilian corporate fraud on record, after accountancy ‘inconsistencies’ led to the collapse of Brazilian retailer Americanas, according to a report by Bloomberg.
The report cites an investor note from the firm as revealing that exposure to the retailer’s local bonds resulted in a 14 basis-point loss last month, trimming monthly gains to 2.7%.
Americanas saw its shares and bonds collapse in spectacular fashion after a BRL20 billion ‘hole’ was found in its accounts leading the company to file
The PRI is inviting its signatories to join its Hedge Funds Advisory Committee (HFAC). The committee is looking to add six to 10 members who have experience of different sectors of the hedge fund industry, including asset owners, investment managers and service providers.
The PRI’s Investment Practices team takes an asset class-specific approach to support signatories’ implementation of the six Principles. Each programme is supported by a signatory-led advisory committee which helps the PRI create and implement strategies for: outreach and industry engagement; clarification on how ESG relates to risks and opportunities; highlighting examples of best practices; and supporting implementation
Eric Nierenberg, who served as Chief Strategy Officer for MassPRIM from 2017-2022 after running MassPRIM’s $6bn hedge fund and low volatility strategies investment book, once said that “moving our hedge fund portfolio to separate accounts is the highest IRR trade we’ll ever make.”
Bridgewater Associates, the world’s largest hedge fund firm founded by billionaire Ray Dalio, has named Karen Karniol-Tambour as its third co-chief investment officer and the first woman to hold the position at the firm, according to a company statement.
A unexpectedly sharp surge in stocks last week saw hedge funds rushing to exit losing bets on falling markets at the fastest pace in years, according to a report by the Financial Times.
BNP Paribas has launched a revamped version of the THEAM Quant – Europe Target Premium fund for continental European investors across the UK, Switzerland, Germany, Italy, France, Spain, and Benelux.
Federal prosecutors are casting their net ever wider as they continue to investigate the collapse of Sam Bankman-Fried’s cryptocurrency empire, with his father, brother and former colleagues, having all now been contacted, according to a report by the New York Times.
The report says a special task force has been created by the US attorney’s office in Manhattan to further the investigation into the demise of Bankman-Fried’s FTX cryptocurrency exchange and Alameda research hedge fund.
The report cites unnamed sources as saying that in recent weeks a ream of prosecutors led by Damian Williams, the US attorney for the Southern
Fintech Save has launched a new savings account portfolio built on an ‘absolute return’ strategy favoured by hedge fund managers, that seeks “to generate steady, positive returns in all market environments”.
Save says its Global Multi-Strategy portfolio is the continuation of the brand’s creation a series of dynamic investment portfolios that seek to generate returns by using a variety of investment strategies.
The Global Multi-Strategy portfolio has been designed in partnership with Second Foundation Partners, the manager of a global macro hedge fund that employs Epsilon Theory research to making trading decisions using natural language processing (NLP) analysis of financial
Capital markets fintech Clear Street is adding derivatives to its menu of prime brokerage offerings, and has hired Thomas Bonville to spearhead the effort. Bonville reports to the Global Head of Distribution, Patrick Travers in his new role as Managing Director, Head of Derivative Sales.
Prior to joining Clear Street, Bonville served as the Head of Sales, Managing Director at Macro Risk Advisors for more than a year and spent eight years running equity derivatives sales at Wells Fargo and 15 years in senior equity derivative sales roles at Nomura, Bank of America, and Goldman Sachs.
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Brevan Howard Asset Management is the latest big name hedge fund firm to expand its presence in the Middle East with news of plans to open a new office in Abu Dhabi in the United Arab Emirates (UAE), according to a report by Bloomberg.
