Monthly Archives: June 2018
Four Hedge Fund Managers Top $1 Billion in Pay as The Industry Rebounds
(CNBC)Four hedge fund managers joined the 10-figure club last year, making more than $1 billion as the industry showed signs of a rebound. Indeed, the 25 highest-paid hedge fund managers last year made the most money they have in four […]
Hedge Fund Calls Out JD for ‘Silly’ Deals, Over-Hyped Stock
(Bloomberg) A prominent hedge-fund manager has publicly attacked JD.com Inc. and its billionaire founder Richard Liu, calling China’s No. 2 e-commerce operator over-valued and upbraiding its top executive for persistent losses. Kok Hoi Wong, chief investment officer for APS Asset […]
Brevan Howard’s Main Hedge Fund Posts Gains of 4.45% in May
(Bloomberg) Brevan Howard Asset Management’s flagship hedge fund is on course for one of its best monthly returns, a reprieve for the money manager facing an investor exodus. The Brevan Howard Master Fund gained 4.45 percent this month through May […]
Legg Mason Sets Aside $67 Million to Settle U.S. Libya Probe
(Bloomberg) Legg Mason Inc. has set aside $67 million as part of an expected resolution of a Foreign Corrupt Practices Act investigation into activities of a hedge fund unit that managed money for the Libyan government of Moammar Al Qaddafi. […]
Soros Contention on Global Crisis `Ridiculous,’ Gorman Says
(Bloomberg) Morgan Stanley Chief Executive Officer James Gorman said that investor George Soros’s contention another major global crisis may be in store is unrealistic, and that the Federal Reserve will probably hike interest rates three more times in 2018 despite […]
Italian Imbroglio Splits Hedge Funds on Bank Bets
(Reuters) Hedge funds are split on how to position billions of dollars in bets they have taken on Italian banks as the country’s political tumult takes its toll on bonds, shares and the euro.Although hedge funds have a combined 1 […]
Hedge Fund’s Tencent Trade Pays ‘Huge’ on a Selloff, or a Rally
(Bloomberg) One hedge fund manager has a novel way to profit from shares of Tencent Holdings Ltd. — whether they go up or down. The trade, a brainchild of BFAM Partners (Hong Kong) founder Benjamin Fuchs, involves buying both Tencent […]
Blackstone, Solus Settle Fight Over Hovnanian CDS Trade
(Bloomberg) Blackstone Group’s GSO Capital Partners and Solus Alternative Asset Management resolved a dispute over a financing plan for Hovnanian Enterprises Inc., ending an argument that had roiled the credit derivatives market. The fight stemmed from GSO’s agreement last year […]
Billion Dollar Hedge Fund Club Grows to $889bn
(aiCIO) The Billion Dollar Club, which encompasses 247 institutions that have $1 billion or more in the asset class, now stands at $889 billion. Some of its largest managers by total assets under management include Bridgewater Associates, AQR Capital Management, […]
Asia Stocks Rebound as Italy Woes Abate; Yen Gains: Markets Wrap
(Bloomberg) Asian stocks rebounded after U.S. shares rallied with Treasury yields as investors saw the market reaction to Italy’s political turmoil as overdone. The dollar held losses and oil stabilized following gains. The MSCI Asia Pacific Index of stocks bounced […]
How a Strengthening U.S. Dollar Affects Equity Returns
(Harvest) Movement in the U.S. dollar can be a headwind or a tailwind for earnings of U.S.-based companies. A company’s sensitivity depends proportionately on how much business it conducts internationally. In the chart below, we can see that, aggregately, firms […]
Additional Charges Announced in Case Involving Pre-Released ADRs
(HedgeCo.Net) The Securities and Exchange Commission has announced additional charges in an enforcement investigation involving the improper handling of American Depositary Receipts (ADRs) by a Wall Street firm’s securities lending desk. The SEC’s order finds supervisory failures by Anthony Portelli, […]