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Apex Group has completed its acquisition of the fund services and third-party management company business operations of Maitland International Holdings, an international fund services provider.
The extreme volatility and unprecedented uncertainty precipitated by the past year’s events have seen investors focus shift from yield hunting to one of capital preservation. Though the current situation could morph into one which is even more challenging, the widening of credit spreads is creating opportunity in the investment grade credit space.
Ken Griffin’s $54.5 billion Citadel hedge fund business and Citadel Securities electronic trading division both recorded record revenues in 2022, according to a report by the Wall Street Journal. Â
New hedge fund launches in the third quarter of 2022 fell lower than the prior quarter, reaching their lowest level since Q4 2008, according to new data released by HFR.
Speculation that a slowdown in inflation and economic growth will force the US Federal Reserve to begin easing monetary policy in the second half of the year has prompted hedge funds to build up record long positions in short-term interest-rate futures pegged to the Secured Overnight Financing Rate.
Investors are set to favour large hedge funds in 2023, with data from Agecroft Partners suggesting that the top 5% of the world’s hedge fund managers will take 80-90% of investor inflows this year, according to a report by Reuters.
But the report cites Agecroft Partners founder and chief executive Don Steinbrugge as saying that the more than 2,000 institutional investors the firm has been in dialogue with over their allocation plans may be wrong to stick with large managers despite their outperformance in 2022.
While hedge funds on average lost 4.1% to the end of November last year according
Formidium, a provider of third-party fund administration and back-office technology solutions, has launched Crypto Fund Tax, a full suite of tax services, including tax allocations, reporting, and filings for funds invested in digital assets.
Crypto Fund Tax is aimed at digital asset, hedge, or venture funds, that invest in cryptocurrency, DeFi, blockchain, mining, staking, NFTs, tokens, private equity, venture investments, and real estate in the digital assets space. Crypto Fund Tax provides comprehensive tax services across the entity’s entire lifecycle for US funds/entities and non-US funds/entities filing US returns.
Crypto Fund Tax uses Formidium’s proprietary technology, Seamless Digital, to connect
Dinosaur Financial Group, a New York-based brokerage firm serving institutions, family offices, asset managers, hedge funds, banks, dealers, and corporations, has appointed Kirk Sauer as managing director, emerging markets.
Crispin Odey’s flagship European Inc hedge fund recorded its best performance last year since launching back in 1991 driven largely by a series of winning bets on spiralling inflation, according to a report by Bloomberg.
Investment manager Neal Berger’s Contrarian Macro Fund chalked up gains of 163% last year on the back of a series of successful bets that US Federal Reserve rate hikes would cause market turmoil, according to a report by Bloomberg.
The report cites an investor document as revealing that the $200 million fund, which launched in April 2001 with partner capital from Berger’s Eagle’s View Capital Management fund of funds business, placed bearish bets on stocks and bonds after correctly predicting that a decade of lenient Fed fiscal policy was about to come to an end.
“The reason why I started
