Hedge Funds

Hedge Funds

With global hedge fund assets at roughly $3.45 trillion (and growing by double-digit percentages each year), money managers have a greater influence on public and private markets than ever before. DailyAlts covers every element of the hedge fund industry – from changing performance structures to manager strategies, from regulatory oversight to activist holdings, and from new fund launches to the liquidation of underperformers. This channel is your one-stop-shop for daily news and insights for the influential and topical hedge fund space.

Top Story

Alternative Investments/Hedge Funds: ETFs’ AUM Continues To Trounce Hedge Funds (ETFGI)

November 2, 2020

As at end of Q3 2020, ETFs AUM exceeded that of hedge funds by $3.58 trillion. Hedge funds gathered net inflows of $13 billion during Q3 while ETFs/ETPs gathered net inflows of $194.4 billion, according to data from ETFGI.

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More Stories on Hedge Funds

EM Hedge Funds Post Record AUM and Gains in Q2

August 22, 2019

Emerging market hedge funds posted solid returns in Q2 despite market turbulence and supported by blockchain, cryptocurrency, and currencies
According to a report by Chicago-based Hedge Fund Research (HFR), assets under management at emerging market hedge funds touched a record $ 239.3 billion by the end of the second quarter of 2019.
This category of hedge funds also reported the best year to date returns in the industry.

Hedge Funds

Eisler Capital Plucks Henry Howell from Goldman Sachs

August 22, 2019

A Goldman alum heads to a hedge fund… run by a Goldman alum Eisler Capital, a macro hedge fund based in London, has hired Henry Howell for a new role in business development. Howell, who worked at Goldman Sachs for 16 years, took the role in July. The news generated buzz this morning after reporting…

Recession Warning

Dreading the ‘R’ Word? Don’t, Says This Investment Manager

August 20, 2019

A recession is not imminent says Esty Dwek, Head of Global Market Strategy, Dynamic Solutions, Natixis Investment Managers
Here is an opinion that is a counterpoint to all the recent doom-and-gloom recession prophecies.

Ray Dalio: China Could “Weaponize” its US Treasury Holdings

August 20, 2019

Hedge fund titan Ray Dalio said to CNBC that China might well use its massive US Treasury holdings to gain a strategic advantage over the United States in the ongoing trade war
Will China use the nuclear option? That refers to China’s ability to dump its holdings of US Treasury bonds and thereby cause a massive rise in US interest rates that could potentially derail the US economy.

Ray Dalio: The Fed May Be Running Out of Bullets

August 20, 2019

The Fed tackled the last crisis through monetary easing. “But the power to do this is limited,” says Dalio. “Think of central banks cutting interest rates and purchasing financial assets (QE) as shooting doses of stimulants into their economies and markets.”

Mohamed El-Erian: Negative interest rates in the U.S. “will break things”

August 19, 2019

El-Erian, chief economic adviser at the financial powerhouse Allianz, warns that negative interest rates in the US would be a recipe for disaster
El-Erian has viewed with some trepidation the recent yield curve inversion that occurred in the US. With negative interest rates already entrenched in Japan and Europe, it may only be a matter of time before the US faces yields below zero.

Bill Ackman at Pershing: He’s really pushing it

August 16, 2019

What a stark difference. The S&P500 is up 17.35% through June 30, while Bill Ackman’s Pershing Square Holdings, his publicly traded vehicle, rose 45.3%.
This, despite 2019 being the best annual start for the index since 1997.

Crescat Capital Celebrates the “Macro Trade of the Century”

August 16, 2019

This August one couldn’t have called it better: long precious metals, short yuan, and short equities
Those are the three legs of Crescat Capital’s “macro trade of the century,” and together they netted a 16% gain for the fund in the early days of August.
Crescat Capital founder Kevin Smith, therefore, has cause for celebration.

Bill Ackman and Pershing Square Bets on Berkshire Hathaway

Bill Ackman: Berkshire Stock to “Increase Substantially”

August 15, 2019

Has Pershing Square been summoned to bail out the Oracle of Omaha? Bill Ackman said in a letter to shareholders that Berkshire Hathaway stock will bolster returns for the fund. The letter comes shortly after Ackman revealed a sizeable stake in Warren Buffett’s iconic firm. The timing of the $700 million purchase of Berkshire B…

Harry Markopolos: GE Operating $38B Accounting Scam

August 15, 2019

Markopolos working with an unnamed hedge fund that is shorting GE
Harry Markopolos is an accounting expert reputed for exposing Bernie Madoff’s Ponzi scheme.
On Thursday, Markopolos released a 170-page report that alleged various accounting irregularities at GE. The report says that many of GE’s filings with regulators could be inaccurate and fraudulent.

Lapis Advisers Pressures University on Technical Default

August 15, 2019

Bethune-Cookman University, in technical default on bonds worth $17 million, is under fire from hedge fund Lapis Advisers, the largest holder of those bonds
Lapis Advisers and bond trustee U.S. Bancorp are alleged to be pressuring the college for a first mortgage on its property worth about $161 million, as part of a forbearance agreement with tenure until December.

Bill Ackman and Pershing Square Bets on Berkshire Hathaway

Pershing Square Bets on Warren Buffett

August 15, 2019

Bill Ackman’s secret investment we discussed last week was just a big bet on Berkshire Hathaway Pershing Square Capital Management has made a passive investment on Warren Buffett. A new SEC filing disclosed a 3.5-million stake in Berkshire B shares during the second quarter. Reuters reports it’s a passive investment for Ackman’s firm. As of…

Yield curve inversion flashes recession warning

August 14, 2019

Yield curves have inverted on both sides of the Atlantic following the release of weak economic data across the globe
Yield curve inversion, a phenomenon where longer-term yields fall below short-term yields, was on full display in the U.K. and the U.S. today.
In the U.S., 10-year yields were poised at 1.62% while two-year yields dropped to 1.63%. Across the pond, in the U.K., the 10-year and 2-year yields quoted 0.475% and 0.478% respectively.

One of Asia’s oldest hedge funds warns of looming ‘distressed cycle.’

August 14, 2019

The US-China trade war and growth concerns are likely to push up debt defaults in the region
As default rates in China tick up, a distressed cycle is looming on the horizon, according to George Long, Chief Investment Officer of LIM Advisors, a 14-year-old hedge fund based out of Hong Kong that manages $1 billion in assets.

Argentina’s Stock Rout Hammers Newfoundland Capital Management

August 14, 2019

Newfoundland Capital Management, a Brazilian asset manager, had $300 million in a long-only fund that invested heavily in Argentine stocks
The fund’s losses could be substantial given that Argentina’s key stock index crashed 33% this week following political developments that dimmed President Mauricio Macri’s re-election chances in October.

SEC Approves Hedge Fund Backed by Jon Corzine

August 13, 2019

The approval comes with many restrictions… begging the question “what’s the point?” The SEC approved Jon Corzine’s new fund, despite protect from professionals in the financial community. The hedge fund approval, however, does come with a series of restrictions that limit its investment scope. The agency order bars former MF Global chief Jon Corzine’s new…

Hedge Fund Q2 Moves: Third Point Buys IPO Stocks

August 13, 2019

Pershing Square, Third Point Cut Stakes in United Technologies SEC filings have revealed the latest hedge fund Q2 moves. Hedge fund Third Point has joined Pershing Square Capital by cutting its stake in United Technologies, according to the firm’s latest 13-F filings with the SEC. Dan Loeb’s shop sold 480,000 UTX shares and still holds…

Cloud Computing

Carl Icahn and Cloudera Strike Deal

August 12, 2019

Icahn gains two board seats, agrees not to boost stake above 20% in cloud computing firm Carl Icahn and Cloudera have reached a voting and standstill agreement. The cloud-computing firm has agreed to appoint Nicholas Graziano and Jesse Lynn to its board of directors. Both new board members are employees of Icahn Enterprises. Both board directors’ terms expire…

Goldman Taps Avinash Mehrotra to Lead Activist Defense

August 12, 2019

Avinash Mehrotra returns to the group he led after the departure of William Anderson in 2015. The Goldman Sachs activist defense team has a new leader after the departure of partner Steven Barg. Goldman has announced that Avinash Mehrotra would lead the company’s activist defense group. The firm released details in an internal memo, according…

Och-Ziff Changes Its Name to Something Worth Fewer Scrabble Points

August 12, 2019

Hedge fund chooses new name Sculptor Capital Management as an ongoing shakeup of Dan Och’s firm continues. The Och-Ziff name change is complete. The company has channeled its inner Stringer Bell. Following the departure of billionaire founder Dan Och, a bribery scandal in Africa, and a revolving door exodus of client money – Och-Ziff has…

The Death of Sears – We’re Well Past 1,000 Cuts

August 9, 2019

Eddie Lampert’s Transform Holdco will shutter another 26 shops as Sears’ demise accelerates. The death of Sears will continue at a slow, steady pace well into the fall. Next week, Transform Holdco, the company created by Sears Chairman Eddie Lampert to purchase the retailer’s assets out of bankruptcy, will start “liquidation sales” at locations it…

ESG Hedge Fund operated in Sweden

ESG Hedge Fund Falters in Sweden

August 9, 2019

The fund had only $2.46 million in assets one year into its operations Handelsbanken Fonder will shutter its ESG hedge fund Handelsbanken Hållbarhet Hedge on September 5, according to a letter to investors. Despite increasing demand around the globe for ESG strategies, the Swedish asset manager cited low client enthusiasm. Launched in February 2018, the…

Jeffrey Tarrant - In Memorium

Jeff Tarrant Passes Away at 63

August 9, 2019

The hedge fund pioneer made a legendary bet against Warren Buffett on activist traders Jeffrey Tarrant, the co-founder of Protégé Partners, has passed away at 63 after a battle with brain cancer. According to a statement from Protégé Partners, Tarrant died at his Bridgehampton home on August 5. Tarrant was a legendary seed investor, money…

BlueMountain Capital Sold to Assured Guaranty

August 9, 2019

Affiliated Managers Group sells its state to the Bermuda-based municipal bond and infrastructure insurer, for $91 million. BlueMountain Capital has struggled in 2019. At the end of June, its flagship Credit Alternatives fund ‘s performance showed a 4% loss. Affiliated Managers Group said it was working to bring the fund back to profitability. The fund…