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Some of Brazil’s largest hedge fund managers say they are feeling more optimistic about the prospects for the country’s economy following the first round of voting in the Presidential election, according to a report by Bloomberg.
The 2 October revealed a closer gap between front-runner Luiz Inacio Lula da Silva and incumbent Jair Bolsonaro than many had been expecting which, coupled with the strong performance by right-wing parties in the country’s Congressional elections, has left some managers feeling that a major turnabout in the fortunes of Latin America’s largest economy is now less likely.
The thinking is that if elected,
Merger arbitrage hedge funds, which bet on the likelihood of corporate mergers and acquisitions closing, could benefit from the relentless rise of the dollar against the the yen, the euro and sterling, according to a report in the Financial Times.
The strength of the dollar has boosted the buying power of investors with Greenback funding allowing them to potentially acquire foreign companies for lower cost than previously. One private equity executive even went so far as to state recently that “everything in the UK is on sale”.
The report quotes Pierre di Maria, head of event-driven at Cheyne Capital in
Invast Global has appointed Stephen Tudjman as Global Head of Legal and Compliance. Tudjman joins from AUSIEX, where he was Head of Legal and Governance. Prior to this role, Tudjman held senior legal positions across the financial services industry including General Counsel, MLC and NAB Wealth and as Senior Legal Counsel for AMP.
Tudjman was also a consultant for Ashurst, where he advised a range of key Australian financial services institutions on compliance, regulatory obligations and management of regulators.
Tudjman joins the Legal and Compliance team in Sydney effective immediately.
The Vista Multistrategia Fund, one of Brazil’s top-performing hedge funds, posted a record 13% loss in September as oil prices plunged and global interest rates surged, according to a report by Bloomberg.
The loss by the fund, which is managed by Rio de Janeiro-based vista capital, was the fund’s biggest since its launch in 2015.
The report cites an investor note as revealing that the Vista admitted being “significantly wrong” in its decision to use positions set to benefit from falling international rates as a hedge to protect its core bet on rising oil prices.
Despite the record monthly loss,
Chinese macro hedge fund Shanghai Banxia Investment Management Center has called the bottom of the country’s stock rout and predicted that the country is on the verge of a bull market.
Macellum Advisors is again pushing for changes at boardroom level at struggling US department store chain Kohl’s and has written a letter to fellow shareholders outlining its plans.
The activist hedge, a long-term holder of nearly 5% on the outstanding common shares of Kohl’s Corporation, has issued an open letter to other shareholders regard the need for what it describes as an “immediate and targeted refresh” of the company’s board.
Macellum wants to see some of Kohl’s long-tenured directors replaced with its own candidates and its ‘hit-list’ includes chairman Peter Boneparth and other members of the company’s executive committee. Earlier
Citadel, the $51 billion hedge fund founded by billionaire investor Ken Griffin, has hired Vesal Yazdi as a portfolio manager from rival firm Davidson Kempner Capital Manager, according to a report by BusinessInsider.
The report cites an unnamed source as revealing that Yazdi ran a tech strategy with more than $1 billion in assets at Davidson Kempner and worked at the $38 billion hedge fund for six years.
Yazdi joins Citadel’s global equities business, which is led by Justin Lubell, and is one of the $50 billion hedge fund’s four long-short market neutral equity units.
Prior to Davidson Kempner, Yazdi
Hidden Road, a global credit network for institutional investors, has launched an over-the-counter (OTC) prime brokerage offering for digital assets, for both US and international counterparties.
Hidden Road’s credit network facilitates OTC trading between market participants, with trades executed bilaterally between counterparties and intermediated by Hidden Road as the credit counterparty. Hidden Road’s OTC prime brokerage will further institutional adoption of digital assets by giving counterparties full ownership and control over their execution technology, liquidity and custodian choice for both fiat and digital assets.
In conjunction with Hidden Road’s support for exchange-traded products, the new OTC prime brokerage service enables
The Managed Funds Association (MFA), the trade association for the global alternative asset management industry, has submitted a comment letter to the US Securities and Exchange Commission (SEC) in response to its proposed amendments to Form PF, emphasising that the comment period was far too short to provide adequate comments to the SEC.
The MFA intends to submit its full comments in the coming weeks.
“The SEC has proposed a substantial revision to Form PF, which will require entirely new, significant and costly technological builds for managers, service providers, and government agencies,” said MFA President and CEO Bryan Corbett. “Given
The Hong Kong Securities and Futures Commission (SFC) has reprimanded and fined hedge fund Asia Research & Capital Management Limited (ARCM) $1.75 million for failures relating to its non-compliance with the European Union’s short selling reporting requirements (EU Regulation) and to promptly notify the SFC of its material regulatory breaches.
The SFC has also banned Billy Wong Yim Chi, ARCM’s former Head of Compliance and Operations and Manager-In-Charge (MIC) for Compliance for two months from 10 October 2022 to 9 December 2022). This is because ARCM’s failures to comply with the EU Regulation were directly attributable to Wong’s failure to
