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The prospect of production cuts by OPEC and its allies, have encouraged hedge funds and other money managers back into the oil market, according to a report by Reuters.
The report cites regulatory records as revealing that the equivalent of 62 million barrels in the six most important petroleum futures and options contracts were purchased in the week ending 4 October.
Crude (+46 million barrels) rather than fuels (+15 million) attracted the most activity ahead of a decision by OPEC+ on 5 October to cut the group’s combined output allocations by tow million barrels per day.
Portfolio managers also purchased
Ray Dalio, the hedge fund veteran who recently handed over control of Bridgewater Associates – one of the world’s biggest hedge funds – to a “new generation” of investors, believes a ‘perfect storm’ is brewing for the economy, according to a report by Reuters.
Dalio remains a “meaningful owner” of the firm and has forecast ‘real’ economic pain as the US Federal Reserve battles to control inflation.
Speaking at the Greenwich Economic Forum this week, Dalio said
he expects the US economy to take a “giant lurch backward”. And the trigger could be interest rates hitting 4.5%.
“I don’t know
Zurich-based Syz Capital, the alternative investment arm of the family owned Syz Group, has appointed Richard Byworth as Managing Partner and Head of Liquid Alternatives, highlighting the firm’s ongoing growth.
As of October 2022, Byworth leads all aspects of the liquid alternatives portfolios, investment, and advisory including sales for the firm.
Byworth is a seasoned investment professional who started his career in investment banking in London, then Tokyo and Hong Kong, as Managing Director for Japanese broker, Nomura. Most recently he developed, built and listed the first digital asset ecosystem onto Nasdaq, as CEO of Eqonex Group.
Andromeda Capital Management, a new hedge fund firm launched by former Algebris Investments’ money managers Alberto Gallo and Aditya Aney, has started trading in London, according to a report by Bloomberg.
In an interview with Bloomberg, the duo said the fund has secured $200 million from an undisclosed investor and capital from the firm’s partners. The firm, which specialises in credit and rates trading, is reportedly looking to grow assets to more than $1 billion.
The new firm, one of the largest hedge fund start-ups in Europe this year in an admittedly quiet year for launches, will employ a strategy
Bob Elliott, a former member of the Investment Committee at Bridgewater Associates, has launched Unlimited Funds, a new investment firm aiming to provide all investors exposure to the alpha-generating potential of alternative investment strategies without the high fees and adverse tax implications.
In conjunction with the launch, the firm announced its first product, the Unlimited HFND Multi-Strategy Return Tracker ETF, which uses a sophisticated machine learning engine to track the gross-of-fees returns across several hedge fund indices.
Elliott, the CEO and Chief Investment Officer of Unlimited, has built innovative hedge fund strategies for more than two decades, most recently at
Elliott Investment Management and Jane Street have been granted permission by a court in London to sue the London Metal Exchange (LME) over its cancellation of trades during a short squeeze in the nickel market in March, according to a report by Bloomberg.
In June, the two firms filed for a judicial review of the LME’s actions which saw the cancellation on billions of dollars of transactions and the suspension of nickel trading for a week following a huge price spike.
While the LME’s actions eased the strain on brokers who were facing huge margin calls, hedge funds and other
William “Bill” Fitzpatrick, CFA, Managing Director and Portfolio Manager at Logan Capital Management, (Logan Capital), a registered investment adviser with a series of separately managed accounts in equity and fixed-income strategies, has been appointed Board Chair of the CFA Society Chicago. Fitzpatrick assumed the role on 1 September, 2022.
CFA Society Chicago has more than 5,000 professional members with a variety of classifications and titles in the investment industry. Members of the Society are committed to holding the highest ethical and educational standards. CFA Society Chicago hosts events featuring top industry speakers, seminars on specialised topics, professional development workshops and
The Depository Trust & Clearing Corporation (DTCC) subsidiary National Securities Clearing Corporation (NSCC) has gone live with its Securities Financing Transaction (SFT) clearing service.
The first trade was successfully executed between two leading market participant firms and cleared by NSCC, leveraging Provable Markets’ SEC Registered Alternative Trading System, Aurora, and connectivity and integration from FIS Securities Lending Processing Platform (formerly Loanet).
The new service supports the central clearing of SFTs between NSCC full-service Members, as well as the central clearing of clients’ SFTs intermediated by Sponsoring Members or Agent Clearing Members. The US Securities and Exchange Commission (SEC) approved
SDX Web3, a newly launched business unit from SIX Digital Exchange, is now live with its Institutional Custody Service for Crypto Assets. The service is designed for institutional clients that want to scale their crypto asset business leveraging back-end services and capabilities.
The new service allows institutions to safely and cost-effectively store and transfer crypto assets without having to deal with the related operational and technical complexities. By using a trusted infrastructure provider like SIX, our clients can focus on what they do best – servicing and anticipating the needs of their clients.
Swiss-based and underpinned with SIX Group’s high
Jim Hough, a former hedge fund portfolio manager at BlueCrest and Brevan Howard, has joined Nomura as a managing director on the firm’s inflation trading desk, according to a report by eFinancialCareers.
Hough will report to Pasquale Cataldi, Nomura’s head of rates trading, who’s been busy building out his team since arriving at the firm from JPMorgan in April.
Hough, left BlueCrest in December 2019 and, according to his LinkedIn profile, has spent his time since then “hanging out in East Sussex running a vineyard”.
Other recent appointments to Cataldi’s team include Jordan Griffiths from Deutsche Bank and Elena Agosti
