Monthly Archives: August 2023
US hedge funds dump China stocks in Q2
(Hedgeweek) Continued concerns over China’s economic prospects, coupled with ongoing geopolitical tensions, saw several US-based hedge funds including Coatue, D1 Capital and Tiger Global cut their exposure to Chinese companies in Q2, according to a report by Reuters. To read […]
SEC Obtains Nearly Nine Million Dollar Final Judgment Against Vika Ventures LLC
(HedgeCo.Net) The Securities and Exchange Commission has obtained a final judgment against defendant Vika Ventures LLC (“Vika”), which the SEC previously charged with fraudulently offering and selling securities of private companies that might hold an initial public offering (“IPO”). Vika […]
Brevan Howard appoints Abu Dhabi-based Middle East CEO
(Hedgeweek) Jersey-based global macro hedge fund major Brevan Howard, which has over $35bn in assets under management, has appointed Oualid Lahsini as Chief Executive Officer of its Middle East business, and Head of Client Partnerships for MENA and Asia. To […]
UBS to pay $1.4 billion over fraud in residential mortgage-backed securities
(CNBC) Swiss bank UBS agreed to pay a combined $1.4 billion in civil penalties over fraud and misconduct in its offering of residential mortgage-backed securities dating back to the global financial crisis, federal prosecutors announced Monday. The bank, in its […]
Nvidia stock jumps 7% after Morgan Stanley says chipmaker benefits from ‘massive shift’ in A.I.
CNBC) Nvidia shares closed up more than 7% on Monday, underscoring how investors believe the company’s graphics processing units, or GPUs, will continue to be the most popular computer chips used to power massive large language models that can generate […]
Trend-following hedge funds playing catch-up on equities bets after missing out on rally
(Hedgeweek) Global equities have finally attracted the attention of trend-following hedge funds on the back of falling volatility as hopes rise that interest rate rises are coming to an end, according to a report by The Financial Times. To read […]
Lloyd Blankfein says he ‘can’t imagine’ returning to Goldman Sachs
(CNBC) Former Goldman Sachs CEO Lloyd Blankfein said he couldn’t imagine returning to his old firm, disputing a news report that said Blankfein offered to return in some capacity. The New York Times piece “misquoted” the former executive, Blankfein told […]
Landseer in talks over transfer of flagship Odey AM fund
(Hedgeweek)Landseer Asset Management UK is in talks with Odey Asset Management over the transfer of portfolio manager Freddie Neave, who runs its flagship hedge fund, as the firm continues to deal with the fallout from multiple sexual assault allegations made […]
Colombian Conglomerate Grupo Aval and Its Bank Subsidiary to Pay $40 Million to Settle FCPA Violations
(HedgeCo.Net) The Securities and Exchange Commission has charged Colombian conglomerate Grupo Aval Acciones y Valores S.A., aka Grupo Aval S.A., and its bank subsidiary, Corporación Financiera Colombiana S.A. (Corficolombiana), with violating the Foreign Corrupt Practices Act (FCPA). Grupo Aval, whose […]
Hedge fund veteran shutters ETF after steep decline
(Hedgeweek) The Noble Absolute Return ETF (NOPE), an exchange traded fund launched by hedge fund veteran George Noble in September last year to provide “access to strategies that are typically not available to average investors”, is to liquidate after less […]
Loeb enters standstill agreement with SiriusPoint
(Hedgeweek) Daniel Loeb, the Chief Executive Officer of hedge fund Third Point Management, has entered into a standstill agreement with SiriusPoint whereby he will hold off on attempts to take the Bermuda-based specialty insurer and reinsurer private for two years. […]
Stock futures rise slightly on Sunday evening after sluggish start to August: Live updates
(CNBC) Stock futures rose slightly on Sunday evening as Wall Street looked to shake off a rough start to August. Futures tied to the S&P 500 ticked up 0.2%. Those for the Nasdaq 100 gained 0.3%, while Dow Jones Industrial […]
