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SoftBank Group Corp”s Vision Fund unit has posted a Q2 loss of $17 billion (JPY2.33 trillion) on the back of a steep decline in the value of its portfolio of tech stocks, according to a report by Al Ja Zeera.
In May, Vision Fund posted a record loss as rising interest rates and global political uncertainty caused high levels of market volatility in the tech sector, resulting in a group Q2 loss of $23.4 billion. That compares with a profit of $563.75 million in the same period a year earlier.
Falling listed investments in the last quarter include robotics firm
Senate Democrats have a provision in forthcoming US climate and tax legislation that would allow the carried rate interest loophole to be closed or at least narrowed, according to a report the New York Times.
Rishi Kohli has been appointed as as chief investment officer-hedge fund strategies at InCred Alternatives Investments Pvt Ltd, the alternative assets arm of InCred Group, according to a report by Mint.
In his new role, Kohli, a hedge fund veteran with owe 21 years of experience in Indian capital markets, will assume responsibility for leading InCred’s first quant fund with the firm having already made forays into long-short equity, venture capital, and structured credit investing.
Prior to joining InCred, Kohli was associated with Avendus having launched India’s first quantitative hedge fund in 2007, and the first systematic managed futures fund
Brevan Howard Asset Management’s BH Digital division has raised over $1 billion in assets for investment in cryptocurrencies and digital assets, according to a report by The Times Hub.
The report cites unnamed sources as saying that the Brevan Howard Digital Asset Multi-Strategy Fund’s performance has been “incredible” since launching at the beginning of the year. The fund, which is down between 4-5%, uses algorithmic trading and relative value trades with 10% of assets allocated to venture investments and the remaining 90% to cryptocurrencies.
BH Digital is planning a $1.5 billion AUM target for the which Brevan Howard Digital Asset
Latitude Investment Management, a London-based boutique investment partnership with £400m assets under management, has expanded its investment team with the appointment of Mike Totton as a senior analyst.
Totton joins from Liontrust Asset Management. Prior to this, he spent nine years at Majedie Asset Management where he was a portfolio manager and analyst within the UK equity teams. He has also previously held roles at Deloitte and the Royal Bank of Scotland between 2009-13.
Totton will work across both the multi-asset Latitude Horizon Fund and the Latitude Global Fund – the firm’s concentrated global equity portfolio.
EEX’s European Power Spot market achieved a trading volume of 50.5 TWh in July with the Intraday markets increasing by 8% to a total volume of 10.8 TWh.
The EEX European Power Derivatives market reached a volume of 241.2 TWh with increases in various markets: Italian Power Futures (+32%), Dutch Power Futures (+130%), Austrian Power Futures (+71%) and Swiss Power Futures (+1,060%). Power Options also increased by 168% to a volume of 3.5 TWh.
The US Power market, operated by Nodal Exchange, reached a trading volume of 128.4 TWh which marks an increase of 32%.
EEX Group’s global Natural
Nick Young, a managing director in Goldman’s New York markets strategies group has joined hedge fund Balyasny Asset Management as head of macro technology, according to a report by eFinancialCareers.
Young is the latest recruit by Mike Grimaldi, the former head of technology at JPMorgan’s corporate and investment bank between 2017 and 2021, who joined Balyasny as chief information officer in September last year. Since then he has recruited several senior staff from both JPMorgan and Goldman Sachs.
Young spent five years at the latter and also previously worked for both JPMorgan and Morgan Stanley.
CME Group is to launch European Overnight Index futures based on RepoFunds Rate (RFR) benchmarks and the Euro Short-Term Rate (€STR) in Q4 2022, pending regulatory review.
RFR futures will be cash-settled contracts based on RFR benchmarks, a robust measure of overnight funding costs. The benchmarks are derived from centrally cleared repo trades executed on BrokerTec, a leading provider of electronic trading platforms and technology services in fixed income markets owned by CME Group, and MTS, a leading European electronic fixed income trading platform, part of the Euronext group. RFR benchmarks are administered by CME Group Benchmark Administration Limited (CBA).
Citadel founder Ken Griffin has been added to a list of entities subpoenaed by Twitter as the social media firm looks to force Tesla founder Elon Musk to complete his $44 billion purchase of the business.
The UK’s short exposure soared in July relative to other European countries, to give it the greatest short exposure in the region at 22.6%, according to the latest data from SEI Novus. Short exposure in Germany meanwhile, the country with the greatest short exposure in June, fell to 22.18%, followed by the Netherlands at 11.12%.
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