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Steve Cohen, the billionaire behind hedge fund boss of Point72 Asset Management, is planning to set up a crypto-specific asset manager, according to a report by Blockworks.
The report cites unnamed sources as revealing that planning for the new entity is in the ‘early stages’ but that it will trade spot cryptocurrencies, offer crypto derivatives, and provide capital to external crypto-focused hedge funds.
Cohen, who first started trading cryptocurrencies and digital assets in 2018, has been involved personally in establishing the new asset manager, with high levels of financial backing required to cover initial operational expenses and the hiring of
Daniel Small, a former portfolio manager at Platinum Partners has been found guilty of securities fraud and conspiracy by a federal jury in Brooklyn – the fourth conviction of a former executive at the one-time $1.7 billion hedge fund, according to a report by Reuters.
Small, who was acquitted of a third charge, conspiracy to commit wire fraud, has subsequently moved that the evidence was insufficient to convict, an US District Judge Brian Cogan said in court that he sees issues with the verdict and will address the motion for an acquittal in the autumn.
If an acquittal is granted,
Saxo Bank, a fintech specialist focused on multi-asset trading and investment, has appointed Christine Kiener as its new head of sales for the institutional business at its UK subsidiary, Saxo Markets UK.
Kiener brings with her a wealth of experience in fintech sales, particularly for digital platforms, having previously worked for Bravura Solutions, Bloomberg LP and Interactive Data for nearly 20 years – with much of this time spent in leadership roles. Kiener joins Saxo Markets from Bravura Solutions, where she was EMEA Head of Business Development leading sales efforts across all product lines.
Kiener will be based in
Apex Group (Apex) has appointed Aneeqa Zamal as compliance executive in its Global Compliance Solutions business.
Apex Group’s expanding Global Compliance Solutions team offers a global network of compliance experts, supporting clients to meet their operational and regulatory obligations across international financial hubs. Clients include leading fund and asset managers, placement agents, FX brokers, fund distribution platforms and investment advisors.
Initially based in Apex Group’s London offices and supporting global clients, Zamal will report to Hari Bhambra, Global Head of Compliance Solutions. She will be responsible for advising and guiding clients through UK and cross-jurisdictional compliance matters, licensing and
Hedge funds led a charge by professional investors to unwind bearish wagers and snap up stocks this week, as the S&P 500 saw a 2% gain on Wednesday, according to a report by Bloomberg.
The gross return of the SS&C GlobeOp Hedge Fund Performance Index for July 2022 measured 0.92%. Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index meanwhile, advanced 0.12% in August.
Risk controls and investor disclosures at Melvin Capital Management are being investigated by the US Securities and Exchange Commission (SEC) following the fund’s mauling during last year’s meme-stock frenzy, according to a report by Reuters.
Central to the SEC’s investigation is exactly what Melvin founder Gabe Plotkin told investors after the fund lost $6.8 billion in a failed bet against GameStop. The SEC has reportedly contacted investors to try and find out whether they were misled when Melvin raised money last year.
The report cites unnamed sources as revealing that the SEC wants to know exactly what Melvin Capital disclosed
The United States Securities and Exchange Commission (SEC), and the Commodity Futures Trading Commission (CFTC), are proposing a change to reporting rules that would require large advisers to certain hedge funds to disclose digital asset exposures more “accurately”, according to a report by Reuters.
The proposed change to the existing Form-PF requirements would apply to funds of at least $500 million and would see declarations of cryptocurrencies switched from “cash and cash equivalents” to a new category aimed at providing more accurate reporting.
The two US regulators believe that due to growth in the hedge fund industry and with digital
The New York Times (NYT) is coming under pressure from ValueAct Capital, an activist hedge fund holding a 7 per cent stake in the business, to increase digital sales by steering subscribers towards premium packages of its products, according to report by Financial Review
The global news media group’s shares jumped 10 per cent after news broke that ValueAct Capital had written a letter urging the business to explore ways to boost profitability.
In the letter ValueAct claims that many of the NYT’s current 6.1 million core subscribers would pay substantially more for a premium package of products and services
Voce Capital, an activist hedge fund run by J Daniel Plants, has been granted a seat on the board at Argo Group International Holdings, according to a report by Reuters.
Voce Capital is the largest shareholder in Argo Group which underwrites specialty insurance products in the property and casualty market. Plants’ appointment takes the number of board members to nine with the new appointee set to serve on the strategic review and human resources committees.
Plants appointments comes just a few months after Argo Group announced a strategic review of its operations, including a potemtial sale of the business.
