Brilliance Asset Management, one of Asia’s largest China-focused hedge funds, chalked up a 16% loss in October after a bet on electric vehicle maker Li Auto went awry, according to a report by Financial Post. The report cites unnamed sources as revealing that the loss left the Hong Kong-based firm’s flagship fund down 40% YTD at the end of October, despite a strong performance in June. According to data from Eurekahedge, other China-focused long-short funds have posted an average decline of 21% over the same period.   The firm’s smaller retail UCITs product – Brilliance China Core Long Short Fund

Some of Asia’s largest hedge funds cut their holdings in JD.com in the third quarter of the year in favour of investing in rival e-commerce giant Pinduoduo, according to a report by Reuters. The report cites the funds’ latest regulatory filings as revealing the switch which seems to be based on a preference for Pinduoduo’s global ambition and inexpensive products over JD.com’s purely domestic business. HHLR Advisers, an investment management arm under billionaire Zhang Lei’s private equity firm Hillhouse Capital Group, upped its Pinduoduo holding by 43% jump in the past quarter, while it sold 25% of its JD.com US-listed

With the EU’s embargo on Russian crude oil imports by sea and the EU-UK-G7 price cap on Russian oil set to come into force in December and February, respectively, hedge fund mangers are again betting on rising oil prices, according to a report by OilPrice.com. The report cites data from futures exchanges as showing that over the past few weeks, hedge funds and other investors have increased bullish bets in the six most important petroleum futures and options contracts traded globally, suggesting that the oil market is expected to remain tight amid huge uncertainties about Russia’s oil supply. According exchanges

The SS&C GlobeOp Hedge Fund Performance Index for October 2022 measured -0.96%, while hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index advanced 0.13% in November. “SS&C GlobeOp’s Capital Movement Index was up 0.13% for November 2022, showing stabilization after outflows in October. However, the 12-month average has been up 0.07%, demonstrating the broad stagnation of flows which characterises 2022,” said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies.  “In the face of historical weakness across asset classes, hedge funds have generally been a steady port in the financial storm created by inflation and higher interest

A host of big-name hedge fund managers have cashed in on Elon Musk’s “forced” $44 billion acquisition of Twitter, with the likes of Carl Icahn, Ken Griffin, Israel Englander and Daniel Loeb all benefitting from an “easy trade” on the deal, according to a report by Forbes. The report cites Icahn as saying that “you didn’t have to be a genius” to work out that the acquisition would finally complete after Musk attempted at one point to walk away from the deal. Speaking at a recent Forbes summit, Icahn also said he would have have considered a proxy fight if

Svelland Capital has teamed with Propel(x) to enable Qualified Purchasers to invest in the Svelland Capital hedge fund through the Propel(x) platform. Rohit Tiwari at Morris Street Advisors USA facilitated the collaboration. Ranked by respected industry analyst Barclay Hedge as the second top macro hedge fund for the three years to March 2022, Svelland Capital represents an opportunity for Qualified Purchasers to diversify their portfolio with an historically high-performing hedge fund. Qualified Purchasers may participate in the offering through a special purpose vehicle managed by Planck Fund Management Corporation, a wholly owned subsidiary of Propel(x).