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Short-term deals with hedge funds are being used by those looking to list companies via Special Purpose Acquisition Companies (SPACs), according to a report by the Financial Times.
Investor interest in SPACS has cooled since reaching a peak during the global pandemic with many choosing to withdraw their cash from the blank cheque companies before mergers with target companies can be completed.
The report says increased regulation, poor performance and a string of scandals have seen investor redemption rates increase with companies such as hedge fund Atalaya Capital Management and private equity company Apollo stepping in to fill the gap
Hedge funds have had a better start to 202 than mutual funds according to a report by MarketWatch, outperformed the S&P 500 up to the end of February.
The report quotes BofA Global Research as revealing that while US mutual funds that focus on large-cap stocks are trailing their benchmarks, hedge funds are off to a “great start” so far in 2022.
On average, hedge funds gained 0.2 per cent last month while the S&P 500 lost 3 per cent, according to the report.
The Alternative Investment Management Association (AIMA), the global representative of the alternative investment industry, has announced Sudrania Fund Services as a Sponsoring Partner.
The partnership enables AIMA’s member firms to take advantage of Sudrania’s fund administration services and enables both organisations to benefit from each other’s events, briefings, offers and other resources.
Sudrania’s fund administration is powered by its Seamless platform, which offers automated waterfall calculations, P&L allocations, automated fees/expense accruals, timely NAV calculation, enhanced reporting for performance attribution, VaR reporting, and portfolio analytics, creating a superior experience for multi-asset class investment managers.
In addition, Sudrania is also a specialists
AIMA and the ACC, together with a number of other trade associations, have submitted a letter requesting that the US SEC grants an extension of the comment periods on the Form PF and the private fund adviser proposals by 60 days. and to grant an extension of the private fund adviser proposal until 120 days after Federal Register publication, respectively.
New prime broker data compiled by Goldman Sachs Group shows that hedge fund managers were big buyers of individual company stocks in February, according to a report by Business Times.
Partly prompted by the market chaos caused by Russia’s invasion of neighbouring Ukraine and concerns over inflation, net purchases of single stocks reached the highest level in the past year, says the report, as managers turned to their stock-picking skills to identify bargain basement shares.
Hedge funds tracked by Goldman focused on tech stocks and bearish bets on macro products, according to the report, with Short sales on ETFs, for
Citadel CEO Ken Griffin has changed his mind on the subject of cryptocurrencies, according to a report by CNBC.
Having previously dismissed crypto as a ‘jihadist call’ against the US dollar and other fiat currencies, Griffin, speaking in an interview with Bloomberg this week, admitted he had made the wrong call on digital currencies.
“The crypto market today has a market capitalisation of about USD2 trillion in round numbers, which tells you that I haven’t been right on this call,” he said. I still have my skepticism, but there are hundreds and millions of people in this world today who
Alex Karnal, a former partner at Deerfield Manager is set to complete one of the biggest US hedge fund launches in years in April, with the debut of a new USD3.5 billion fund, according to a report by Bloomberg.
The report quotes unnamed sources as saying that Karnal’s new Connecticut-based firm Braidwell will make public and private bets on the healthcare sector with a particular focus on biotechnology, pharmaceuticals, and medical devices and diagnostics.
The fund will launch on 1 April, and as well as making long and short wagers on stocks and convertible bonds, as much as 20 per
French systematic long/short equity hedge fund Quantology Capital Management’s flagship fund was up +4.0 per cent in February, while the Nasdaq 100 and S&P 500 were down -4.6 per cent and -3.0 per cent, respectively over the month.
An investor update from the firm says the strategy benefitted from high levels of dispersion and elevated volatility in the equity space.
Quantology’s says its long book performed very well, remaining flat, again when stocks were down 3 per cent to 4.6 per cent. The short book gained 8 per cent or roughly double the losses of the equity indices. Coming
Maples and Calder, the Maples Group’s law firm, has promoted two of its lawyers in Asia, Andrew Wood and Josie Ainley, to Partners in the firm’s Asia Funds & Investment management practice.
Andrew’s practice focuses on investment funds for Asian clients and includes advising on all aspects relating to the formation and maintenance of both private equity and hedge funds.
Ainley meanwhile, focuses on investment funds for international clients advising on all aspects relating to the formation and maintenance of both private equity and hedge funds, including extensive regulatory advice.
Notably, the firm’s Asia Funds & Investment Management practice led
EEX Group’s European Spot markets reached a volume of 49.9 TWh in February with Intraday Spot markets growing by 10 per cent to 10.6 TWh during the last month.
