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Apex Group is to acquire Bank of America Custodial Services (Ireland) Limited, the Irish depositary business of Bank of America. Apex will acquire BACSIL through its subsidiary European Depositary Bank.
Digital asset investment products saw $37 million inflows last week, although this was predominantly into short investment products (68%), according to the latest Digital Asset Fund Flows Weekly report from CoinShares.
Regionally, opinion is very polarised. Inflows were seen in Europe, most notably Germany and Switzerland with $14 million and $10 million respectively.
Hong Kong, meanwhile, saw outflows from long investment products, while 95% of the inflows into the US were into short-bitcoin products.
Diligend, a cloud-based, digital due diligence software platform for the investment management industry, has rebranded as Dasseti. The rebrand comes alongside the successful close of the firm’s Series A Financing led by Nasdaq Ventures.
The boom in sustainable investing has brought challenges to the process of fundamental research. One of these key pressures is data-related, due to the fragmentation which still exists in this part of the market. Uniting datasets in one place can prove to be a very powerful tool for managers looking to make an impact in the ESG arena.
Ken Griffin’s Citadel is now the best ever performing hedge fund in terms of annual returns having chalked up a $16 billion profit for investors in 2022 on the back of a raft of winning wagers including bonds and equities, according to a report by the Financial Times.
Activist investor Chris Hohn’s TCI Fund made its first loss in 13 years in 2022 with the fund ending the year 18% down as Stockmarket prices tumbled during a widespread sell-off in growth stocks, according to a report by Bloomberg.
The report cites an unnamed source as confirming that the fund made only its second ever annual loss since it launched in 2004 as big bets on tech giants including Google parent Alpahabet Inc and Microsoft Corp tanked.
TCI, which builds stake in companies and then agitates for change to increase value, runs a long-biased portfolio spread over a small
Activist investor Elliott Management Corp has acquired a multi-billion dollar holding in cloud-based software firm Salesforce Inc, but has yet to reveal its strategy for increasing value at the company, according to a report by Reuters.
The report cites a statement by Jesse Cohen, managing partner at Elliot, as saying that: “We look forward to working constructively with Salesforce to realise the value befitting a company of its stature”.
Cohn has past experience of working with technology companies having previously served on the boards of both Twitter and eBay, while Elliot has made many tech-focused investments and recently saw portfolio
Steve Cohen’s Point72 has been granted regulatory approval in the UK, a decade after his previous firm paid a record $1.8 billion in fines after pleading guilty to insider trading charges, according to a report by the Financial Times.
The Financial Conduct Authority had turned down Point72’s applications two previous occasions following SAC Capital’s sanctions in 2013, ruling in 2018 that Cohen was not ‘fit and proper’ to offer his new fund to UK investors.
Point72 a former family office that opened to outside investors in 2018 and manages $26.7 billion in assets, will now be able to offer its
Activist investor Caius Capital has made an additional $11 million investment in Metro Bank taking its stake to 5% in total and making it one of the troubled challenger bank’s ten largest investors, according to a report by CityAM.
The new investment by Caius Capital, which focuses on “distressed and special situations”, comes a month after the Financial Conduct Authority (FCA) fined Metro Bank £10 million over an accounting scandal which has seen shares in the bank plummet since 2019.
As well as sanctions against the bank, the FC also ordered Former CEO Craig Donaldson, who was forced out in
Hedge fund managers and asset managers are more divided on their outlook for benchmark Treasuries than they have been since late 2018, when the Federal Reserve’s tightening cycle was about to peak, according to a report by Bloomberg.
The report cites data from the Commodity Futures Trading Commission as revealing that leveraged funds are bearish on 10-year bonds, while asset managers are bullish, with net-short leveraged positions having grown to their highest level since since 2019. More bullish institutional investor counterparts meanwhile, have seen net long positions climb to a record, in data, going back to 2006.
The rise in
