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PivotalPath’s Composite Index, which tracks hedge funds of various strategies, rose 0.9% in July, way behind the 9% jump of the S&P 500 in July, according to a report by Reuters. Year-to-date though, hedge funds – as tracked by the index – are down 2.2% while the S&P500 is down more than 10 per cent.
LHG Capital Management (LHG), a hedge fund firm focused on global macro investment strategies, received over US$600 million in net inflows in 2022, pushing the firm’s total assets under management to over $750 million in August 2022.
LHG is now one of the largest hedge funds dedicated exclusively to global macro investing in the Asia-Pacific region.
The hedge fund firm’s flagship global macro fund, the LHG Premium Investments Fund, reported a six-month return of 15% between October 2021 and April 2022, with a maximum peak-to-trough drawdown of -2.17%.
Following an extensive consultation with its flagship fund investors, LHG’s management team
Genesis Global Trading is laying off 20% of its 260-strong workforce weeks after it emerged that the cryptocurrency lender and brokerage firm has a claim of $1.2 billion against now-bankrupt hedge fund Three Arrows Capital (3AC).
Recent court filings revealed that Genesis lent $2.4 billion to 3AC to the now-bankrupt crypto hedge fund Three Arrows Capital which put down 50% collateral on the loan. After liquidating the collateral, Genesis’ parent company Digital Currency Group (DCG) remains 3AC’s biggest creditor.
As part of the plan to cut staff, chief executive officer Michael Moro, who has been in the role since early
Options Technology, a provider of cloud-enabled managed services to the global capital markets, has secured it eighth Microsoft Gold Partner Status competency in Data Platform.
Gold Partner Status is awarded to only the top 1% of Microsoft partners and is a recognised mark of the highest technology and business performance standards worldwide.
Microsoft’s Data Platform competency demonstrates Options’ ability to ensure customer database systems operate efficiently with data secured from unauthorised access and categorised so that it can be translated into business insights.
This accolade is the latest addition to Options’ global cloud-agnostic platform. It follows the company’s receipt of
Hedge funds attracted marginally positive flows from investors last month, as the industry notched up a 3% weighted average gain in July following a torrid first half for investment performance.
CME Group is to launch options on ether futures on 12 September, pending regulatory review. These new contracts deliver one ether futures, sized at 50 ether per contract, and based on the CME CF Ether-Dollar Reference Rate, which serves as a once-a-day reference rate of the US dollar price of Ether.
In times of market uncertainty, risk functions at prime brokers (PBs) manage their client risk exposures more dynamically. Their role is to ensure enough margin is charged and collateral is held in a variety of “risk-off” scenarios across the spectrum of hedge fund trading strategies.
Ray Dalio’s Bridgewater Associates has seemingly had a change of heart regarding European stocks with the hedge fund cutting back most of its big bets against continental companies, according to a report by Reuters.
The report cites data company Breakout Point, whose calculations are based in on Bridgewater’s public disclosures, as revealing that the company’s short wagers against stocks in more than 50 European companies have been cut from roughly €10 billion to €475 million. Just two financial institutions remain on Bridgewater’s ‘short’ list – Banco Santander SA and ING Groep.
With European regulations only requiring funds to disclose
Lawyers led by McCue Jury & Partners and Mishcon de Reya LLP are aiming to go after billions of dollars of sanctioned Russian assets with the help of investments from hedge funds, family offices and litigation finance firms, according to a report by Bloomberg.
The report cites unnamed sources as saying that the lawyers are looking to raise funds to file legal claims against sanctioned Russians, with any proceeds largely being used to compensate Ukrainians for losses incurred from Russia invasion on it neighbour. Investors would receive a cut of any successful claims.
The report says that the initiative by
CVC Credit has priced Apidos XLI (41), a collateralised loan obligation (CLO) fund totalling c$500 million, arranged by Societe Generale. This is the fifth new issue CLO priced by CVC Credit’s transatlantic performing credit platform this year, which together have an aggregate value of over $2.4 billion (c€2.3 billion).
Apidos XLI will increase CVC Credit’s global AUM to over $34 billion (€32 billion). The transaction has been structured with a five-year reinvestment period and was well received by both existing and new investors. As with previous Apidos funds, Apidos XLI is primarily comprised of broadly syndicated First Lien Senior Secured Loans.
