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A new hedge fund to be launched next year by DE Shaw and Point72 Asset Management alumni has secured multi-billion dollar backing from Millennium Management, according to a report by Bloomberg.
The report quotes unnamed sources as revealing that the as-yet unnamed firm is being set up by Andrew Komery, who was a managing director in DE Shaw’s fundamental equities group until early this year, and Alex Chacon, who most recently served as an analyst at Steve Cohen’s Point72.
As well as running its own hedge fund business, Millennium also sometimes invests alongside traders running or setting up independent firms,
The Waha MENA Equity Fund, the flagship fund of Abu Dhabi-based investment management company Waha Capital PJSC has been ranked in 15th spot in the latest survey of the world’s top hedge funds by veteran New York-based financial analyst, Eric Uhlfelder.
The fund has climbed seven spots in this year’s Global Investment Report rankings and is the only MENA-based hedge fund to feature in the top 50.
Since its inception in 2014, the Waha MENA Equity Fund has yielded a cumulative return of 280.6% (as of 31 August 2022), equivalent to an annualised net rate of return of 16.7%. In
Betting on big-picture macroeconomic changes has helped some hedge funds navigate – and outperform – China’s rocky stock markets so far this year, according to a report by Reuters.
YTD ‘winners’ include Stanley Tao’s $230 million Golden Nest Greater China Fund which is down 1.2% for the first nine months of the year, having posted a 2.4% gain in September. The MSCI China index meanwhile, is down roughly 30% for the first three quarters of the year, its worst first nine months since 2008, while the Shanghai Composite Index lost 16% during the same period, losing 5.5% in September alone.
Data provider Exchange Data International (EDI) has launched Readable Corporate Action Notices (RCAN), a new product offering that is aiming to change how the front- and middle-office at buy-side companies interacts with corporate actions data.
RCAN will enable workers to read corporate action notices in the same way as they read the news. RCAN covers 45 corporate events, including dividends, mergers and acquisitions, new listings (IPOs), and stock splits, as well as aggregating corporate actions from over 150 exchanges globally.
Through this revolutionary technology, front- and middle-office workers can meaningfully engage with corporate actions data and communicate the insights contained
Pragma, an independent, multi-asset class algorithmic trading technology provider, has enhanced its deep-learning enabled execution algorithms to intelligently trade Canadian and US interlisted equities.
Pragma launched Mercury, its deep neural network-based execution engine, in 2021 after a multi-year research and development effort, and a year of controlled production trading trials with its clients. Mercury’s deep neural network microtrading engine controls the routing, sizing, pricing and timing of orders, and has shown a robust improvement in execution quality, with an average shortfall improvement ranging from 33% to 50% across billions of traded shares.
Support for Canadian and interlisted equity trading
Digital asset investment products saw outflows totalling $5 million last week, although the majority was from short investment products, according to the latest Digital Asset Fund Flows Weekly Report from CoinShares.
Bitcoin saw its 4th consecutive week of inflows totalling $12 million, while short-bitcoin investment products saw outflows totalling a record $15 million. These outflows represent 10% of total assets under management (AuM) and are double that of any seen in prior weeks.
Ether saw minor outflows totalling $2.2 million last week, highlighting continued hesitancy amongst investors post the Merge.
The financial landscape is in flux, as investors in the cryptocurrency space tackle a number of market headwinds which can cause some apprehension. But finding the right balance between diversification and risk management, can help them forge a path which safeguards their portfolios without stifling growth.
A group of investors including Davidson Kempner Capital Management, is hoping to persuade Schneider Electric SE to increase its £31 per share takeover offer for UK industrial software company Aveva Group Plc, according to a report by Bloomberg.
The report cites unnamed sources as revealing that the merger arbitrage firm has built a holding of 3.5% in Avela and along with other minority investors is seeking an improved offer from Schneider Electric of up to £35 per share. Davidon Kempner is reportedly continuing to acquire Avela stock.
Schneider, which already holds about 59.1 per cent of Avela, first made an
Barry Norris the founder of London-based specialist equity fund management company Argonaut Capital, wants all new wind and solar power projects in the UK to be put on hold because of a lack of reliability in the amount of energy they can generate.
Norris, whose firm manages with long and short and long-only funds, has written to Jacob Rees-Mogg, Secretary of State for Business, Energy, and Industrial Strategy calling for a pause “pending an official enquiry into intermittency and our ability to usefully store excess energy generation on windy and sunny days”.
In the letter Norris points out that on
Macro hedge funds surged in September, with strong contributions from currency and fixed income exposures as the US dollar extended record gains, the Federal Reserve increased interest rates in an effort to slow generational inflation, and US equities posted steep, broad-based declines.
The investable HFRI 500 Fund Weighted Composite Index fell -1.5 per cent for the month, though topped declines in US equities by over 700 basis points, as strong Macro performance was offset by declines across Equity Hedge, Event-Driven, and Relative Value strategies, according to data released today by HFR®, the established global leader in the indexation, analysis and
