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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
Hedge fund Brevan Howard is currently hiring portfolio managers, as well as technology professionals who have managed major functions for banks, as it looks to build out its business under chief executive Aron Landy, according to a report by eFinancialNews.
Recent recruits at the global macro fund include Gabriel Pepe, who joined from UBS in April and is now the fund’s global head of technology solutions for operations and business risk, based in London. Pepe previously spent 19 years at HSBC.
Brevan Howard also hired Kevin Gage last month, the former CIO of Mizuho in London, as its chief technology
The iM DBi Managed Futures Strategy ETF (DBMF), which replicates the strategies of trend-following hedge funds, has passed the $1 billion mark having attracted net inflows of of $893 million so far in 2022, according to a report by Bloomberg.
The fund, which started the year with just $60 million in assets, has returned 33% so far in 2022 amid prolonged moves in a host of assets as the US Federal Reserve ramps up interest rates to tackle soaring inflation.
Managed futures strategies, which take both long and short positions across a raft of derivatives seeking to ride price momentum
Despite the US dollar having jumped by nearly 20 per cent so far this year, hedge funds still think there’s more to come from the greenback as the US Federal Reserve ,looks to curb inflation with tighter monetary policy, according to a report by The Financial Times.
The report cites data from the US Commodity Futures Trading Commission as US dollar advancing against the Canadian dollar, Japanese yen and euro than they are on it falling. Brevan Howard, one of the world’s biggest macro funds, is among the firms that have been betting on dollar strength, according to a recent
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.
