Hedge Fund Billionaire Alan Howard is Still Backing Crypto Startups (Blockworks.co)
British billionaire Alan Howard is among crypto investors who aren’t backing down throughout the recent turmoil. The 58-year-old hedge manager is still investing in the space. In mid-June, Howard took part in a $10.3 million pre-seed round for crypto brand studio ScienceMagic. Studios, notably after Terra collapsed. He also participated in ‘play-to-earn’ metaverse startup Atmos Labs’ $11 million seed round, which closed around the same time – when crypto lenders were causing contagion across the market.
Bridgewater’s Giant Bet Against Europe Stocks is Starting to Pay Off (Bloomberg)
Bridgewater Associates’s call against European stocks has had a good month. Since the world’s biggest hedge fund’s bets were disclosed last month, the large-cap Euro Stoxx 50 index has underperformed major equity benchmarks in the US, the UK and Japan. Among Bridgewater’s biggest short positions, TotalEnergies SE and Siemens AG are down 12% over the period, while ASML Holding NV has dropped 3.3%.
AC Milan Investor can Obtain Documents in Bid to Block Elliott Sale (Reuters)
NEW YORK (Reuters) – A U.S. judge has authorized a minority investor in AC Milan to obtain documents in a legal effort to block the hedge fund Elliott Investment Management LP from completing a 1.2 billion euro ($1.21 billion) sale of the Italian soccer club. Blue Skye Financial Partners, which said it owns 4.3% of AC Milan, accused Elliott of violating its rights by engaging in several months of “behind closed doors” talks to clinch a sale of the seven-time European Cup winners to U.S. investment firm RedBird Capital Partners.
Multi-Strat Funds Lead June Hedge Fund Losses (Hedge Week)
Hedge fund performance declined month-on-month in June, with multi-strategy leading losses with a return of -2.8%, according to the latest monthly Hedge Fund Report from the Citco group of companies. Hedge funds administered by Citco companies saw net redemptions in June as investors withdrew funds from all AUA buckets and most strategy types. June trade volumes were the highest on record for Citco, up 9.8% month-on-month, and 2.2% higher than the previous peak in March of this year.
Here’s What Cathie Wood has been Buying for Her Flagship Ark Fund! (The Motley Fool)
Expert stock picker Cathie Wood has been busy again this week. So let’s take a look at the stocks Wood has been adding to her ARK Invest portfolio. Cathie Wood is a star stock picker and the founder, CEO, and CIO of ARK Invest, an asset manager that invests in disruptive innovation. Wood gained fame in 2020 when all six ARK ETFs registered returns greater than 100%. With the market flattening out over the past month, Wood and her ARK Invest, which has more than $40bn in assets under management, have been busy buying stocks.
