Hedge fund ag selldown takes them net short on soy (AgriMoney)
Hedge funds turned net short on soybeans for the first time since 2011, and reduced heavily exposure to rising sugar and coffee prices, as they further extended their bearish turn in agricultural commodity bets. Managed money, a proxy for speculators, cut its net long position in futures and options in the top 13 US-traded agricultural commodities, from cotton to cattle, by nearly 100,000 contracts in the week to last Tuesday, according to data from the Commodity Futures Trading Commission regulator.
HedgeCoVest To Launch In August 2014 (HedgeCo)
HedgeCo Networks is announcing an online marketplace launching in August 2014, providing clients with benefits similar to a hedge fund, without many of the associated risks. HedgeCo is partnering with BYN Mellon affiliate Pershing Advisor Solutions. “Our strategic partnership with Pershing Advisor Solutions is a perfect fit and a testament to the ground breaking technology and commitment to excellence that will allow HedgeCoVest to bring the hedge fund industry to the masses,” says Evan Rapoport, CEO of HedgeCo Networks.
Foreign hedge funds could lose as Europe tightens rules (Reuters)
Europe’s move to tighten regulation of the hedge fund industry could give home-grown funds an edge over foreign rivals, many of which are still trying to absorb the new rules on attracting investor cash. The rules, known as the Alternative Investment Fund Managers Directive (AiFMD), were launched a year ago to create a single market for hedge funds and help protect investors by requiring funds to be more transparent and improve their risk management.
Activist investor is pressuring EMC to divest VMware (BizJournals)
Elliott Management Corp., a stakeholder in Hopkinton-based EMC Corporation (NYSE:EMC), will try to convince the data storage giant to spin off VMware, Inc. (NYSE:VMW) in order to boost its stock price, according to a Wall Street Journal report. The hedge fund company will try to argue that the company’s current structure has been detrimental to EMC’s lagging stock price, according to the report.
Highfields Risk Chief Co-Founder Of Ex-SAC Exec.’s New Firm (Finalternatives)
Highfields Capital Management’s chief risk officer is the co-founder of former SAC Capital Advisors chief operating officer Solomon Kumin’s new hedge fund. Todd Rapp will leave the Boston-based hedge fund to serve as co-founder and partner at Kumin’s unnamed firm, The Wall Street Journal reports. Kumin hopes to raise between $800 million and $1 billion for the fund, which is expected to debut later this summer.
Recommended Reading:
Shire PLC (ADR) (SHPG), Time Warner Cable (TWC): How John Paulson Got His Mojo Back
Lonestar Capital Management Boosts Stake In Westmoreland Coal Company (WLB)
Paul Singer Adds To Position In Riverbed Technology, Inc. (RVBD)
