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As global markets tumbled in mid-July, some of the world’s largest equity hedge funds, including Light Street Capital Management, Pershing Square Capital Management, suffered significant losses, having invested heavily in popular tech company stocks that led the downturn, according to a report by Bloomberg.
Intel
A Goldman Sachs note has revealed that Japan-focused hedge funds saw their steepest daily performance loss on record on Monday, according to a report by Reuters, amid a global stock rout triggered by disappointing US jobs data and last week’s Bank of Japan rate hike.
Intel
Jain Global, the hedge fund firm founded by former Millennium Management Co-CIO Bobby Jain ended its first month of trading with a small loss of 0.65%, while rival multi-strategy firms, including Millennium and Ken Griffin’s Citadel, managed small gains, according to a report by Business Insider.
Intel
Several high-profile hedge funds including Balyasny, Man Group, Winton and Bridgewater Associates are rekindling their interest in portable alpha strategies, which seek to ‘decouple’ alpha from beta to capture market-beating returns, according to a report by Business Insider.
Intel
Pershing Square has abruptly cancelled the IPO of Pershing Square USA, just days before it was set to debut on the New York Stock Exchange, and months after founder Bill Ackman suggested it would be one of the largest IPOs ever, according to a report by Reuters.
Intel
Pershing Square boss Bill Ackman announced on Tuesday that his new listed investment vehicle, Pershing Square USA, is aiming to raise approximately $2bn in capital, a significant reduction from the initial $25bn target he had envisioned, according to a report by Reuters.
Intel
A recent surge in bullish bets on sterling by hedge fund and other asset managers has set the scene for a sharp correction in the currency, should the Bank of England opt to lower interest rates later this week, according to a report by Bloomberg.
Intel
Hedge funds have made their most significant retreat from bearish yen bets since 2011 as the once-popular carry trade strategy falters, with leveraged investors cutting 56,639 net short positions on Japan’s currency over the two weeks ending 23 July, according to a report by Bloomberg.
Intel
Bill Ackman has announced a significant reduction in the fundraising target for his new US-listed fund, Pershing Square USA, citing investor apprehensions about the fund’s structure and cash deployment strategy, according to reports.
Intel
A coalition of hedge funds invested in Ukraine, including Aurelius Capital Management and VR Capital Group is gearing up for debt-restructuring negotiations with the Ukrainian government to rework approximately $2.6bn in GDP warrants, according to a report by Bloomberg.
