News
Each day, DailyAlts tracks major developments across the alternative investment world. Our content is procured from primary contacts in the industry and secondary sources across the web. Our goal is to give readers the most up-to-date news and engaging experience to open new doors and areas of knowledge. Our stories cover nine separate verticals of the alternative investment industry.
Top Story
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.
Get Daily Updates
Subscribe to DailyAlts Today to get Alternative Investment news, insight, and commentary delivered straight to your inbox every day.
More Stories on News
Three Men Netted in $722 Million Crypto Mining Fraud
A 5-man team conned investors in a crypto-mining based Ponzi scheme.
According to US Attorney Craig Carpenito, two men from Colorado and a third from California were arrested on Tuesday for the crypto mining fraud. The other two are still absconding.
Matthew Brent Goettsche, 37, of Lafayette, Jobadiah Sinclair Weeks, 38, of Arvada, and Joseph Frank Abel, 49, of Camarillo, California, will face charges. These include conspiracy to commit wire fraud as well as conspiracy to offer and sell unregistered securities.
Hedge Fund AQR Asset Management Report Talks “Risk On”
AQR Asset Management researchers have put out a new paper that looks at fixed income investing.
As rates have declined over the past 20 years, active fixed income managers have outperformed their benchmark index
Activist Investors Stay Busy This Week – Rolls Royce, GAM, Domino’s Pizza
Activist investors are pushing for significant changes as we bring this year to a close. This week, Domino’s Pizza chairman Stephen Hemsley announced plans to step down from his role thanks to hedge fund pressure. Hemsley took the role in 2010. Now, he will exit on December 29.
Venture Capital: Proteus Digital Health the Latest Startup Struggling to Raise Cash
Proteus Digital Health is reportedly seeking a financial lifeline after it failed to extend a $100 million financing round.
Notz Stucki Will Purchase Alternative Investments Manager Jam Research
Notz Stucki has purchased Geneva-based alternative investment management firm JAM Research.
Artificial Intelligence: Banks Can Leverage AI For a $450 Billion Bonanza
Banks could save a humongous $447 billion by 2023 by deploying artificial intelligence (AI), says the AI IN BANKING research report from Business Insider Intelligence.
Of this, front office banking AI applications could yield $199 billion, middle office $217 billion and the back office $31 billion.
BarclayHedge: Hedge Fund Returns Ticked Higher in November
Hedge fund returns continued their upward momentum in November. The industry posted a monthly gain of 1.12%, according to the Barclay Hedge Fund Index.
Alternative Investments – ARP Funds Outperformed During Q4 2018 Slump
Alternative Risk Premia (ARP) funds passed their initial test during the correction in the last quarter of 2018, says Cambridge Associates.
Research by Cambridge Associates shows that Alternative Risk Premia (ARP) funds, which are a kind of hedge fund alternatives, returned -4% during the market correction in the last quarter of 2018. In contrast, equities returned -13.7%, and equity hedge funds returned -9.3%.
By this measure, ARP funds appear to have passed their first test.
Alternative Investments: CPPIB Commits $600 Million to Indian Infrastructure
The CPPIB will invest up to $600 million in the National Investment and Infrastructure Fund (NIIF) of India. CPPIB’s investment is complementary to its existing direct investment strategy in Indian infrastructure. It joins Abu Dhabi Investment Authority, AustralianSuper, Ontario Teachers’ Pension Plan, and Temasek.
Private Equity Firm Leonard Green and Partners Closes Two Offerings
Leonard Green and Partners announced that it has closed two flagship private equity fund offerings. The firm’s eighth flagship private equity investment fund, Green Equity Investors VIII, raised a total of $12 billion of committed capital.
BAML: Quant Mutual Funds Underperforming Stocks in 2019
Quantitative funds are lagging behind the major stock market indexes in 2019.
The market is heading towards its best year since 2013, but those funds managed based on investment factors have not kept up with the indexes. According to a recent report from Bank of America research analysts, large-cap funds managed using quantitative analysis are lagging the indexes buy an average of 3.2% for the year, and only 11% of these funds have managed to outperform.
Investors Pulling Money from Hedge Fund Solus Alternative Asset Management
Solus Alternative Asset Management faces a second straight year of high redemption levels. The distressed debt specialist has struggled due to bad investments in firms like Pacific Gas & Electric and Intelsat. According to the Financial Times, the hedge fund’s flagship fund has dropped by 9% this year. In 2018, the fund fell by 15%.
HFRI Fund Weighted Composite Index Gained 1.2% in November
The HFRI Fund Weighted Composite Index gained 1.2% in November, as optimism regarding U.S. economic growth outweighed risks and negative sentiment around trade/tariff negotiations and impeachment proceedings, according to data released today by HFR, the established global leader in the indexation, analysis, and research of the global hedge fund industry.
Pershing Square 13-F: Ackman’s Hedge Fund Buys Agilent Technologies
The Pershing Square 13-F filed in November has revealed Bill Ackman’s latest stake. According to the SEC filing, Ackman’s hedge fund has scooped up a 2.9 million-share stake in Agilent Technologies. The firm specializes in laboratory instruments and software.
Digital Assets: The SEC Thaws; Approves Bitcoin Futures Fund
In what Commissioner Hester Peircetook hailed as “a bit of progress,” the SEC cleared the decks for the launch of a bitcoin futures fund.
The SEC last week approved the launch of the futures-based NYDIG Bitcoin Strategy Fund. The regulator cleared the Form N-2 filed by Stone Ridge Trust VI on October 2 with amendments on October 16 and November 26.
Liquid Alternatives: YTD Returns for Alternative UCITS Strategies Swing Dramatically from 2018
YTD Returns for Alternative UCITS Strategies Swing Dramatically from 2018. About 80% of alternative UCITS funds generated positive returns until end-October, with nearly all strategies doing well.
According to HedgeWeek, the LuxHedge Global Alternative UCITS Index has gained 3.22% year to date in October 2019, indicating the average fund in this space is in positive territory.
VC Giant Sequoia Capital Raises $3.4 Billion for U.S. and China Investments
Venture capital giant Sequoia Capital has raised $3.4 billion for two new investment funds. The first fund will invest in late-stage companies in the United States. The second will invest in Chinese growth and venture investments, according to Form 4 filings with the SEC.
Hedge Fund Asia Research & Capital Management Shorts Premier Oil
Premier Oil is the target of a massive short position. Asia Research & Capital Management (ARCM) has reportedly built a massive bet against the energy company.
Magnetar Capital Aims to Launch $400 Million Health Fund
Magnetar Capital will launch its first healthcare hedge fund in 2020. The firm aims to close a $400 million fund by mid-2020, according to Bloomberg. The company will look to capitalize on the growth of startups and by shorting established businesses with challenges on the horizon.
Hacker Uses Ingenious MO to Siphon $1M from VC Firm
Security researchers at cybersecurity firm Check Point relate how Chinese hackers hijacked $1 million of seed money that was supposed to travel from a Chinese venture capital firm to an Israeli startup. A “Man-in-the-Middle” attack, spoofed emails, bogus domains, lots of planning, plenty of patience, and bingo!
Hedge Fund Billionaire Bill Ackman Looks for 50% Returns in 2019
Billionaire Bill Ackman and his hedge fund are having a great 2019. Last month, Ackman’s hedge fund added another gross return of 3.4% — or 3.2% after fees. This gain brings Pershing Square (after fees) to a 51.3% return so far in 2019. What’s crazy about this number is that Ackman’s firm hasn’t had a year of net positive returns since 2014.
Hedge Fund White Elm Capital to Shut Down Despite Big Gains
White Elm Capital is shutting down its hedge fund operations. Founder Matthew Iorio wrote a letter to investors Friday announcing the decision.
Hedge Fund Elliott Pushes Saga To Jettison Care-giving Unit
It was a highly lopsided match anyway. In a peace offering to activist Elliott Advisors, Saga is putting its care business up for sale.
Saga is reportedly working with accountants Grant Thornton to sell its Saga Healthcare unit. The business comprises the Country Cousins, and Patricia White’s branded care services.
Five Star Funds Launches Hedge Fund to Focus on Vegas, Baby
Five Star Funds announced it would create the Flamingo All Weather Fund, a new fund aimed to capitalize on favorable economic conditions in Las Vegas.