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Millennium Management, the $58 billion hedge fund firm founded by Izzy Englander, has completed its plan to lock up client capital for longer by returning ing an additional $15 billion to investors, according to a report by Bloomberg.
The report cites unnamed sources as confirming that the money is from a share class that can be redeemed in full over a year. The same amino was returned to investors last year as part of a lock-up plan that has been running since 2018.
Investors can now choose to re-invest their funds in an alternative share class that only allows withdrawals
Recent market chaos has helped quant hedge funds make big gains with some now on track to rack up record annual returns, according to a report by Financial Advisor.
Kwasi Kwarteng’s mini budget of unfunded tax cuts sparked a dramatic plunge in pound and sharp rise in bond yields last month, providing further trading opportunities for the algo-driven funds, which who are designed to quickly pick up on momentum trades.
Among the big winners were Aspect Capital’s Diversified Programme, which returned 5.2% taking YTD gains to nearly 44%, according to an investor document, while the Tulip Trend Fund rose more
Systematic Alpha GP, an affiliate of Systematic Alpha Management (SAM) which manages the Systematic Alpha Intraday Trading Program, has launched the Systematic Alpha Cryptocurrency Arbitrage Fund trading pure arbitrage in digital assets on major cryptocurrency exchanges.
The fund started trading in May 2022, employing a proprietary pure arbitrage crypto strategy, which has been traded live using proprietary capital since February 2020. The seed capital for the Fund came from Bequant – an Institutional Prime Broker and Exchange which was recognised by HedgeWeek as the Best Digital Assets Prime Broker in 2022.
The fund trades exclusively bitcoin and ether futures and
Man Group has extended it’s funding for the the Oxford-Man Institute of Quantitative Finance (OMI), a centre for interdisciplinary research in financial markets established in conjunction with Oxford University, for a further five years until at least 2027.
This extension takes Man Group’s commitment to 20 years of continuous funding and underscores the firm’s commitment to machine learning research in quantitative finance.
The OMI opened in 2007, bringing together leading quantitative finance academics and research students alongside Man Group researchers based in the co-located Man Research Laboratory (MRL). The dual academic-commercial environment provided by the OMI and MRL was
Dan Yu, founder of research firm Gotham City Research, and Cyrus De Weck, who set up Portsea Asset Management, are teaming up to launch a new short-selling fund, General Industrial Partners, early next year, according to a report by The Financial Times.
The report cites a unnamed source as revealing that the pair are betting that a downturn in markets will help them replicate previous successful short bets against companies including Wirecard and Steinhoff.
Gotham City’s list of past short-selling successes include high-profile wagers against Spanish WiFi provider Let’s Gowex, which later filed for bankruptcy and admitted its accounts had
Said Haidar’s $4.3 billion Haidar Jupiter hedge fund is up 274% so far in 2022 – four-times it’s previous best ever annual performance – having chalked up a 19% gain in September alone, according to a report by Bloomberg.
The fund is one of a cohort of macro funds to have exploited recent market volatility to rack up big gains with the likes of Crispin Odey and Michael Platt also recording record profits. Rokos Capital Management and Brevan Howard Asset Management have also seen double-digit gains so far this year.
Like other rival macro funds, the key to Hiadar’s success
Hedge funds and investment banks are going head-to head in a bid to secure the best macro trading talent in Hong Kong, according to a report by eFinancialCareers.
Ongoing market volatility has provided a opportunities for macro funds to chalk up big returns, while investment banks are looking to beef up their trading operations in fixed income commodities and currencies (FICC) as they look to compensate for underperformance by their corporate finance businesses.
Huatai Financial Holdings is building a macro distribution team in Hong Kong headed by Kurt Zhang who leads the FICC sales team, while sources say that Millennium
EDX Markets (EDXM), a digital asset exchange backed by leading financial institutions, and Paxos, the regulated blockchain infrastructure platform, have formed a partnership that will enable institutional custody of traded assets for EDXM clients, and provide Paxos customers with direct access to this new state-of-the-art ecosystem.
With Paxos’ support, EDXM will offer the most trusted, efficient and liquid cryptocurrency exchange on the market.
Paxos’ enterprise platform will facilitate the custody and wallet infrastructure of digital assets for sophisticated financial institutions and investors seeking the most efficient and compliant trading venue in cryptocurrency markets. Leveraging Paxos’ blockchain technology and regulatory expertise,
Overbond, an API-based credit trading automation and execution service in the global capital markets, has integrated an AI-powered margin optimisation function into its existing automated trading system. Traders can now train Overbond’s automated system to optimise their hit ratio according to the desired trading parameters of the desk. This increases the number of trade inquiries that traders can respond to without trader intervention.
Overbond has achieved an advanced step forward in fixed income trading by fully automating the margin-optimisation function within the Overbond automated trading system and data streams via API.
The Overbond margin optimisation model optimises the distance-to-cover based
Ongoing market turmoil helped Citadel’s flagship hedge fund chalk up a 2.5% gain in September, taking year-to performance to 29%, according to a report by Bloomberg, with the firm’s three other hedge funds all generating double-digit returns too.
