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As ever, hedge fund news in the first month of the year was dominated by last year’s returns, with lots of positives from the likes of Citadel (15.3%), Millennium Management (10%), DE Shaw (10%), Rokos Asset Management (8.8%) et al. Taken in the context of the S&P 500’s 23% gain for the year though, and the Nasdaq’s even more formidable 43% return on the back of the continuing tech-driven rally in US stocks, their high single- or low-double digit returns weren’t that much to shout about.
Intel
Pascal Guttieres, a former UBS Group banker, is launching a new Hong Kong-based hedge fund, Viridian Asset Management, that will bet on a revival in Asia stock sales after volumes last year fell to the lowest seen in a decade, according to a report by Bloomberg.
Intel
Man Group is ditching its GLG brand in the first big change since new CEO Robyn Grew took the helm at the world’s largest listed hedge fund last September, as the firm moves into credit markets, according to a report by the Financial Times.
Intel
A group of hedge funds with exposure to mortgage bonds and average gross leverage in excess of 2,000% has attracted the attention of the European Securities and Markets Authority over concerns of potential market risk, according to a report by Bloomberg.
Intel
Record losses last year incurred on the back of bullish bets on oil have prompted Pierre Andurand to reduce the risk in his Commodities Discretionary Enhanced hedge fund investment portfolio, according to a report by Bloomberg.
Intel
Hedge funds upped their acquisitions of Chinese stocks to the fastest pace seen in over five years during a three-day period last week, according to a report by Reuters which cites a client note from Goldman Sachs.Â
Intel
Millennium Management, the multi-strategy major founded by Izzy Englander, has pulled cash from Meridiem Capital Partners, three years after backing the stock-focused hedge fund to the tune of $1.5bn, according to a report by Bloomberg.
Intel
The Dubai Financial Services Authority has described 2023 as an “exceptional growth year”, with the regulator having licensed and registered a record-breaking 117 firms, including a big increase in hedge funds during the 12-month period, an increase of 25% over 2022.
Intel
Bill Ackman, the CEO and Portfolio Manager at hedge fund Pershing Square Capital Management, and his Israeli-born wife Neri Oxman, have paid $25m to acquire a 4.9% stake in the Tel Aviv Stock Exchange, according to a report by Reuters.
Intel
China’s securities regulators have asked a number of hedge fund managers to restrict short selling of stock index futures as part of wider plans to stabilise the country’s declining markets, according to a report by Reuters.
