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.
The results of a poll of hedge fund managers conducted by Hedge Fund Research showed that 53% of them (687 managers) incorporated ESG factors and sustainability metrics into their investment processes. However, 47% (609 managers) said they did not do so. The results are significant, coming as they do ahead of the 2021 UN Climate Change Conference (COP26) in Glasgow this weekend.
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More Stories on Hedge Funds
Tom Steyer, the energy-investing billionaire turned environmentalist “anti-billionaire,” hit the debate stage for the first time this week. The 62-year-old hedge fund manager turned activist has called for Donald Trump’s impeachment. He has also pledged $100 million of his own money for the Democratic nomination.
Capco announced its new Prime Brokerage Consulting offering to support prime brokers.
Capco is a global management and technology consultancy dedicated to financial services and energy industries. Its Prime Brokerage Consulting offering will guide prime brokers through regulatory change and data and digital transformation agendas. It will also assist on other projects such as vendor selection.
Research from Preqin shows that the hedge fund industry lost $34.4 billion in the third quarter. This was the sixth-straight quarter that outflows outpaced inflows. That said, the strong performance across hedge fund strategies have bolstered AUM by 3.5% since the start of the year.
The Hong Kong political crisis has certain hedge funds looking for an exit. A delegation from Tokyo’s financial industry has organized meetings to lure these funds to move to Japan.
Oaktree Capital co-chairman Howard Marks said that failing tech IPOs in 2019 is a sign of investor discipline. The billionaire money manager discussed WeWork’s near-collapse and failed IPO with Reuters this week. WeWork had abandoned its planned Q3 IPO after the company released its S-1.
Alden Global Capital now owns about one-third of Tribune Publishing, according to a new SEC filing. A week after buying a big stake from Michael Ferro, the hedge fund boosted its holdings to 32% of the company.
Elizabeth Warren and hedge funds go together like oil and water. Over the last month, big hedge fund names like Leon Cooperman and Steven Cohen have warned about the threat of Elizabeth Warren to the financial markets.
Macro hedge fund Stone Milliner Asset Management is closing its doors. The company announced it would return capital to investors in the face of weak performance and ongoing outflows.
Starboard Value Buys a Stake in the Pharmacy Benefits Giant CVS Health has a new activist investor circling around it. The Wall Street Journal reported Monday that Starboard Value has purchased a stake in the pharmacy and health benefits giant. Reports indicate that Starboard has a small stake in CVS and that management has already discussed…
Bridgewater Associates’ Ray Dalio said Friday that his hedge fund isn’t shorting the markets. In a Tweet, Dalio refuted a Wall Street Journal report about his firm’s position.
Chuck Schumer says he’s keeping a close eye on hedge fund Alden Global Capital. The Democratic Senator from New York has raised concerns about Alden’s recent stake in Tribune Publishing, a publisher of local newspapers. Alden recently purchased a 25.2% stake in the firm from Michael Ferro.
Greg Coffey retired at the age of 41 after time at GLG Partners and Moore Capital Management and returned to Sydney, Australia. But six years later, he announced plans to start a new fund.
Hedge fund manager Ray Dalio is shoring the markets. The largest hedge fund in the world – Bridgewater Associates – has a $1.5 billion bet that the markets will fall by March. The Wall Street Journal reports that these wagers will pay if either the Euro Stoxx 500 or S&P 500 decline.
Hedge fund performance remained strong in October. As investors cheered lower interest rates and progress on trade between the U.S. and China, hedge funds returned 1.06% for the month. That figure comes from the Preqin AllStrategies Hedge Fund benchmark. This figure followed an uptick of 0.4% in September.
Firefly Value Partners is taking the activist approach with Gulfport Energy. The hedge fund has demanded a seat on the board of directors at the energy firm.
The SS&C GlobeOp Hedge Fund Performance Index for November arrived today. Here is a recap from the group’s press release from November 21, 2019.
Hedge fund redemptions continued for the fourth straight month in September. BarclayHedge says that investors’ redemptions hit net $14.7 billion in September. The figure comprised 0.5% of total hedge fund assets.
Louis Bacon will close his New York hedge fund Moore Capital and return money to investors. The Financial Times first reported the story on Thursday morning. The decision comes after three decades of tepid performance by the money managers’ hedge funds.
Broadridge Financial Solutions announced today that it has purchased ClearStructure Financial Technology, a global provider of portfolio management solutions for the private debt markets.
Premium Point Investments trader receives 40 months in prison for a mismarking scheme. Anthony Scaramucci has received justice from the firm that caused Skybridge Capital about a $79 million loss. Scaramucci’s fund of funds had sued Premium Point Investments on claims that the investment firm inflated the value of its hedge fund assets. Skybridge announced…
Alden Global Capital has purchased Michael Ferro’s 25.2% stake in Tribune Publishing. Ferro was the largest shareholder of the newspaper company. The deal priced the stake at 9 million shares at $13 each. That brings the value of Ferro’s stake to $117 million.
Icahn Capital and Berkshire Hathaway were among the asset managers to release 13Fs last week. While Warren Buffett boosted his stake over Occidental Petroleum, Carl Icahn faced a setback in his legal battle against the company.
ExodusPoint Capital Management will reopen its arms in 2020 to add a few billion to its AUM. The hedge fund was the industry’s largest in 2018 at $8 billion.
South Korea hedge funds are experiencing the worst run on assets in history. A scandal at Lime Asset Management has fueled outflows on local hedge funds.