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.
Capital Pilot Launches Systematically Driven Venture Capital Fund, Boost Fund I (Opalesque.com)
Capital Pilot, a startup investor relations platform and trading brand of Capnova Limited has launched Boost Fund I, the UK’s first automated high-volume investment fund for high-growth UK startups. Established as a Jersey Private Fund, Boost Fund I invests in UK startups, assessing each potential portfolio company using Capital Pilot’s Investability Rating System, said a press release from the investment manager. “Boost Fund I is sector agnostic and plans to complete 100 equity investments in less than six months,” it said.
SS&C GlobeOp Hedge Fund Performance Index and Capital Movement Index (PRNewswire)
SS&C GlobeOp Hedge Fund Performance Index: June performance 0.00%. Capital Movement Index: July net flows decline -0.12%. WINDSOR, Conn., July 15, 2022 /PRNewswire/ — SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that the gross return of the SS&C GlobeOp Hedge Fund Performance Index for June 2022 measured 0.00%. Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index declined -0.12% in July. “SS&C GlobeOp’s Capital Movement Index for July 2022 of -0.12% should be viewed as a strong result in light of the seasonality of capital flows, which tend to run negative during the month. On a comparative basis, the -0.12% reflects decreased net outflows versus the -0.39% reported a year ago and is also the lowest level of July net outflows since 2011,” said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies.
Hedge Fund That Apologized for China Losses Rebounds 17% in June (Bloomberg)
Brilliance Asset Management’s hedge funds scored double-digit gains in June as Chinese stocks rebounded, partially recovering from a stretch of losses that led to an apology from the firm’s founder last year. The flagship Brilliant Partners Fund surged 17% in June, narrowing the first-half loss to 14%, said two people with knowledge of the matter. The smaller Brilliance China Core Long Short Fund rose 21% during the month, reducing declines to 16% in the first six months, according to data collected by Bloomberg. Both outperformed the benchmark China stock index in the month.
Friday 7/15 Insider Buying Report: SONM, VOXX (Nasdaq.com)
On Wednesday, Sonim Technologies’ Chief Executive Officer, Hao Peter Liu, made a $800,000 purchase of SONM, buying 952,381 shares at a cost of $0.84 each. Bargain hunters are able to buy SONM at a price even lower than Liu did, with the stock changing hands as low as $0.70 at last check today — that’s 16.4% under Liu’s purchase price. Sonim Technologies is trading up about 21.6% on the day Friday. And also on Wednesday, CEO Patrick M. Lavelle bought $256,892 worth of Voxx International, buying 40,000 shares at a cost of $6.42 each. Before this latest buy, Lavelle purchased VOXX at 3 other times during the past year, for a total cost of $39,795 at an average of $7.96 per share. Voxx International is trading up about 9.4% on the day Friday. Lavelle was up about 12.1% on the buy at the high point of today’s trading session, with VOXX trading as high as $7.20 in trading on Friday.
Around $12 Million Bet On Sonim Technologies? 4 Penny Stocks Insiders Are Buying (Benzinga)
Quest Resource Holding: The Trade: Quest Resource Holding Corporation (QRHC) 10% owner Joshua Landes acquired a total of 10,000 shares at an average price of $4.09. To acquire these shares, it cost around $40.93 thousand. ProtoKinetix: The Trade: ProtoKinetix, Incorporated (PKTX) President and CEO Clarence E. Smith acquired a total of 2,666,667 shares at an average price of $0.03. The insider spent $80 thousand to buy those shares.
