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SHORT-SELLING
A number of well-known hedge fund short sellers continue to target London-listed oil and gas company Tullow Oil, as the beleaguered exploration firm looks to overhaul its business model and improve its balance sheet position.
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In this article, CollasCrill’s Christian Hidalgo and Simon Gray of BVI Finance revisit the incubator fund – ever-popular with hedge fund managers and family offices – focusing on the structure’s new popularity among crypto and digital investors.
MANAGER INSIGHTS
Launched earlier this year, New York-based Ironhold Capital’s equity-focused hedge fund is seeking to capitalise on opportunities in value-oriented stocks across the US and India.
OIL
London-based energy hedge fund Westbeck Capital’s high-flying flagship strategy was brought back down to earth during a dismal October – but the oil-focused fund is staging a November fightback following news of a Covid-19 vaccine breakthrough.
The Westbeck Energy Opportunity Fund slipped 10.8 per cent last month – its second double-digit loss in as many months, having suffered a 15 per cent slide in September – after most oil equities were hammered in October.
The strategy “aggressively” cut its oil stocks portfolio in late September which helped ease equity losses. But the announcement of renewed lockdowns in Europe in late
MANAGER INSIGHTS
Designed as a balanced portfolio of ‘best-in-class’ hedge fund managers, Prime Capital AG’s flagship fund of hedge funds strategy – the PCAM Blue Chip Fund – has built a formidable track record since launching in October 2007.
HEDGEWEEK LIVE EUROPE
With surges in volatility tipped to become increasingly frequent, so-called “black swan” events are more likely to become part of “the new normal”, speakers at this year’s Hedgeweek LIVE Europe summit heard.
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By Matthew Chapman (pictured), Director, ACA Compliance Group – Geopolitical change and uncertainty, regulatory sabre-rattling and industry shake-ups have combined to create a perfect storm for many financial services firms when it comes to their trade and transaction reporting obligations under MiFIR, EMIR and SFTR.
TRADING
US hedge fund titan Kenneth Griffin (pictured), founder, CEO and co-CIO of Citadel, says the recent GameStop trading frenzy demonstrates the need to overhaul the settlement process in markets, and wants a shorter timeframe for settling trades, along with more transparent capital models.
FUND PERFORMANCE
Brummer & Partners’ flagship multi-strategy fund has made a strong start to February, with its equities- and macro-focused managers generating strong gains that have helped the Stockholm-based outfit reverse January’s losses.
The Brummer Multi-Strategy (BMS) vehicle’s SEK class has risen 4.5 per cent in the first two weeks of the month, which puts its year-to-date performance at 3.6 per cent. Meanwhile, the twice-levered Brummer Multi-Strategy 2xL version of the fund is up 9 per cent as of 15th February. On a year-to-date basis, it has advanced 7.1 per cent.
Eight out of the nine underlying managers that make up the
OUTLOOK
Man GLG’s Flamand urges market neutral tilt as inflation risk looms amid equities “euphoria”
OUTLOOK
Man GLG’s Flamand urges market neutral tilt as inflation risk looms amid equities “euphoria”