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FUND PERFORMANCE
Altana Wealth, the credit, currency and special situations-focused hedge fund led by former Trafalgar Asset Managers co-founder Lee Robinson, is making bumper returns from distressed opportunities within the global oil services sector, where companies have been clobbered by Covid-19.
The Altana Distressed Opportunities Fund, which seeks out investment ideas in neglected corners of capital markets, has soared some 115 per cent since its late October lows by targeting certain energy assets which tumbled in value in the early stages of the coronavirus crisis, the firm said on Wednesday.
Since the start of 2021, the fund is up more than 64 per
FUND PERFORMANCE
Man Group saw its funds under management swell further during the first three months of the year, rising to USD127 billion thanks to strong investment performance and continued investor inflows.
GUEST ARTICLE
By Patrick Ghali (pictured), managing partner, Sussex Partners – A lively debate is currently taking place amongst allocators as to whether onsite due diligence and face-to-face meetings are still necessary given the current environment. The simple answer must be a resounding: yes, absolutely.
MANAGER INSIGHTS
Spun out from Brevan Howard Asset Management in 2019, SIGTech is a London-based fintech company providing what founder and CEO Bin Ren (pictured) describes as a “next generation quant platform”.
FUND PERFORMANCE
Hedge funds are stacking up gains this year as shuttered economies continue to unlock, with the industry navigating volatility and inflation to score its best January-to-May performance in two-and-a-half decades.
SPONSORED CONTENT
The fallout from the Greensill collapse in recent weeks has highlighted just how vital it is to have a transparent view on credit risk, whether it is in supply chain finance or the equity tranche of a CLO. In any investment fund the buck stops with the portfolio manager; they are the ones making critical decisions and one must assume they understand the underlying risk.
hedgeweekLIVE NORTH AMERICA
The concluding session at this year’s hedgeweekLIVE North America digital summit focused on the fundraising challenges – and opportunities – faced by start-up hedge funds, with speakers tackling what moderator Aaron Steinberg, director, prime Services at BNY Mellon-Pershing, described as the “Covid-19-sized gorilla in the room”.
DIGITAL ASSETS
Argentium Digital Asset Management, a London-based cryptocurrency hedge fund founded by ex-JP Morgan and Credit Suisse manager Paul Frost-Smith, has committed to a carbon-neutral investment approach.
The fund’s blockchain activity will be independently assessed annually for carbon impact, with Argentium pledging to purchase carbon credits or offsets to neutralise that impact. In addition, Argentium will purchase credits or offsets to cover its own carbon footprint.
As part of this initiative, Argentium – which recently unveiled its systematic multi-strategy arbitrage fund Chimera – is working with Brazilian environmental platform MOSS, which creates carbon offset programmes through its MCO2 token, the world’s first tokenised carbon credit.
“We will purchase and ‘burn’ the required number of MCO2 tokens
FUND PERFORMANCE
Larger hedge funds have entered the second quarter on a high after a staging an impressive fightback which saw them generate above-average returns in March after lagging the industry average during the first two months of the year.
NEWS
Hedge funds are circling Wirecard AG, the troubled German electronic payment processing company, which saw its share price plummet further on Friday morning (19 June) following revelations of alleged accounting imbalances.
The Munich-headquartered company revealed this week that some EUR1.9 billion worth of reported cash balances – an estimated quarter of its total balance sheet – could not be verified by auditor EY.
Shares in the DAX 30-listed firm crashed following the statement, sliding from EUR100.40 on Thursday to under EUR20 at one point on Friday morning.
Wirecard is now a key a target of several short-sellers, with well-known hedge funds including
