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Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while the ROCm 6 open software stack introduces new features supporting Large Language Models (LLMs). Additionally, the Ryzen 8040 Series processors come equipped with Ryzen AI capabilities.
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Pension Funding Deficits at UK-Listed Companies Hit £67 Billion as Yields Drop
Funding deficits at defined benefit pension plans for the top 350 listed companies in the UK touched a two-year high in August
According to consulting firm Mercer, funding deficits at these pensions bloated by £16 billion to £67 billion as of August 30 from £51 billion in July.
Naomi Heaton Optimistic Despite Brexit Concerns
Optimism for the year ahead, says London Central Portfolio chief Naomi Heaton, chief executive of the property investment firm London Central Portfolio, expressed optimism for London markets despite continuing Brexit issues. In an interview with Property Funds World, Heaton said it was a good time to buy real estate. She cited a drop in property…
FCA-Approved Crypto-Arbitrage Fund Raises $50 Million
Nickel Asset Management, a London-based hedge fund, has officially launched a cryptocurrency-focused ‘Nickel Arbitrage Fund.’
The new fund has raised $50 million within two months and won rare approval from UK regulators.
Roivant, the Hedge Fund Specializing in Drug Castoffs, Signs $3 Billion Deal
Japanese drugmaker Sumitomo Dainippon Pharma will buy a stake of just over 10% in Roivant Sciences
Former hedge fund manager Vivek Ramaswamy founded Roivant Sciences, a Swiss holding company. Roivant builds “Vants” – biotech and healthcare companies that license, or own, development drugs sidelined by Big Pharma companies.
Roivant currently owns a central technology-enabled platform and 20 Vants with over 45 investigational medicines under development.
Now trade the world’s 1st tokenized hedge fund – 24/7
Protos, the world’s first tokenized hedge fund, opened to public investors this month
Crypto investors can now trade the Protos hedge fund tokens on the OpenFinance Network (OFN). OFN is an SEC-registered Alternative Trading System (ATS).
Investors plow money into precious metal ETFs
Fears of a recession are driving investors to safe-haven precious metal ETFs
Precious metals have quietly come out of nowhere and are hitting new highs.
Macroeconomic factors such as trade wars, fears of a global recession and political turmoil such as Brexit are to blame.
Activist hedge fund accuses condom-maker of inflating financials
Ben Axler of Spruce Point says Church & Dwight rigged numbers to jack up compensation bonuses
Church & Dwight is the listed maker of Trojan condoms, sex toys, hair growth, and rectal creams. It also sells baking soda and products relating to laundry, cat litter, oral and personal care.
‘The One,’ an 85-story Toronto skyscraper, funded by Korean institutions
outh Korean institutions lend C$560 million ($423 million) to IGIS Asset Management
IGIS will onward lend the funds to Mizrahi Developments, which is developing the skyscraper in Toronto, Canada.
Dubbed ‘The One,’ the mixed-use building will cost an estimated $1 billion. Once completed, it will be the tallest building in Canada.
Vista Equity Partners Raises Largest Tech-Focused PE Fund in History.
Tech funds still generate massive demand from investors Vista Equity Partners has raised the largest technology-focused PE fund in history. The shop raised $16 billion in outside capital for its new fund, Vista Equity Partners Fund VII LP. That figure exceeds the $15 billion raised by Silver Lake. It also surpasses the $12.6 billion raised…
China Now Has an AI Powered Judicial System
Shanghai in China unveils its AI-powered judicial system for handling criminal cases An AI-powered judicial system now runs in China. This is not surprising. After all, the nation timed the launch of this system with the World Artificial Intelligence Conference 2019 from August 29 to 31. The “206 System” has generated a lot of controversies….
People on the Move: AG & Co., TigerRisk Partners, Bookend Capital, and Clarion Capital
TigerRisk Partners Appoints New CEO People on the Move for September 5, 2019 TigerRisk Partners appointed James Few to the role of CEO at its London office. Few now reports to company President and COO Rob Bredahl. He comes over from MS Amlin where he modernized the firm’s global reinsurance business. Few leads a busy…
Office Properties Income Trust Announces Sales of Four Properties
The multistate deal allows the firm to pay off unsecured loans Office Properties Income Trust announced the sale of four buildings this week. The buildings are in San Antonio and Arlington Texas, as well as one in Hanover, PA. Gross proceeds for the sale reached $223.2 million before closing costs. The firm will use the…
Starboard Value Takes 7.5% Stake in Cloud Storage Firm Box Inc.
The activist fund takes a stake in an underperforming cloud services firm. Starboard Value has purchased a 7.5% stake in the cloud storage company Box Inc. The activist hedge fund called the cloud services giant “undervalued.” Jeffrey Smith’s firm is now the second-largest shareholder after Vanguard Group. Box stock was off 40% in 2019 prior…
Revisiting the End of an Era at Blackstone Group
The departure of Bennett Goodman will reverberate across the company for years. The Bennett Goodman era comes to a close as the co-founder of GSO Capital Partners is stepping down. Along with J. Albert Smith III and Douglas Ostrover, Goodman founded GSO in 2005 and sold the operations to Blackstone in 2010. During that time,…
This AI-Led Hedge Fund Will Trade Global Currencies
A former Goldman Sachs analyst with a background in military intelligence programming is setting up an AI-led hedge fund for trading the major currencies
Niklas Hojman, who previously worked at Goldman, has co-founded Swedish company Century Analytics AB along with Hugo Langeen and Jimmy Carlsson. The company’s proposed CenturyOne currency hedge fund is betting that artificial intelligence will prove to be the success mantra in currency trading.
People on the Move: Goldman Sachs, JPMorgan, Close Brothers, and KKR
Marty Chavez Will Depart Goldman Sachs after 19 Years at the Wall Street Titan People on the Move for September 4, 2019 The big news today is the announcement that co-head of Goldman Sachs’ securities division Marty Chavez is departing the company. Chavez served briefly as CFO last year and was considered a candidate to…
iFunded to Accept Both Retail and Institutional… And Fiat and Crypto
iFunded is crowdfunding an apartment building in Berlin
iFunded, a German investment platform has listed for investment a debt-offering of €350,000. Investors have already funded €121,000, and others, including retail, may subscribe with amounts as low as €500. The interest rate is 6% for a 12-month loan term.
Alternative Investments: Warning Alarms are Sounding
Could the mountain of ‘dry powder’ be too much of a good thing?
Warning notes are sounding that fund managers, weighed under by mounting investible funds with few good enough ideas to invest, may be forced to accept lower returns.
ESMA Hikes Frequency of Liquidity Stress Tests on European funds
European funds such as UCITs, AIFs, and ETFs must conduct quarterly liquidity stress tests, according to the European Securities and Markets Authority (ESMA)
The funds must implement these tests from September 2020.
People on the Move – Rivendell Partners, Revolut,iCapital Network, and Gide Loyrette Nouel
Rivendell Partners, Revolut, Alpha FMC, iCapital Network, and Gide Loyrette Nouel People on the Move – September 3, 2019 Revolut has faced pressure in recent months due to its customer service and compliance limitations. The banking startup continues to expand at a breakneck pace (more than 6 million users since its 2015 launch). Now, after…
Alternative Investment Fund Launches and Updates – September 3, 2019
Investment fund launches for September 3, 2019. First up, venture capital firm Golden Gate Ventures has filed to launch a $200 million fund in partnership with South Korea’s Hanwha Asset Management. The Singapore-based VC fund also said it will focus on Series B startups in the Southeast Asian region. Next, Hosen Capital is seeking $750…
AI-Dependent Hedge Funds Underperform the Industry
Though AI hedge funds have underperformed this year, on the longer timeframe of five years they lead by a wide margin
Hedge funds that are dependent on AI technology have returned a mere 2.77% this year up to July versus a return of 6.36% achieved by the industry.
That’s despite the hype surrounding artificial intelligence as a pathbreaking technology that would dominate investment management.
Indian B2B online marketplace Udaan raises $373.5 million in Series D
Altimeter Capital, GGV Capital, and Hillhouse Capital, besides existing investors DST Global and Lightspeed Venture Partners, participated in the funding.
The funding round places Udaan’s valuation at $2.3 billion.
Udaan holds the record for being the fastest Indian startup to make it to the prized ‘unicorn’ status. It achieved that mark in September 2018 when it raised $225 million.
Suspended Woodford Equity Income Pivots from Unquoted Securities to Listed Ones
The £3.5 billion Woodford Equity Income fund, run by Neil Woodford, must reconstitute its holdings into a more liquid portfolio by December and come out of suspension
Neil Woodford has sold unquoted and illiquid stocks amounting an estimated £900 million out of three funds, most of it from Woodford Equity Income. Out of that, he spent £145 million on shares in British American Tobacco (BATS), BT (BT) and British Airways owner International Airlines Group (ICAG).