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Hedge Fund and Insider Trading News: Bill Ackman, Bodenholm Capital, CIAM, Frequency Therapeutics Inc (FREQ), Netflix Inc (NFLX), First Majestic Silver Corp. (AG), and More

Bodenholm Team Reunited (Hedge Nordic)
Stockholm (HedgeNordic) – Mads Thamsborg, former Head of Shorts and Partner at the now-closed Bodenholm Capital, is preparing to launch a new hedge fund out of Stockholm in the first quarter of 2021, according to HFMWeek. Thamsborg is the chief investment officer of a new firm called Nyhavn Capital, which will run a fundamental long/short equity strategy with a portfolio containing between 40 and 50 global stocks from a universe of around 300 companies. According to HFMWeek, the soon-to-be-launched fund’s portfolio will house between 18 and 20 long positions and around 25 shorts. The fund is targeting high single-digit to low double-digit returns after fees. Nyhavn Capital aims to raise $100 million for its scheduled launch in the first quarter of next year. The team at Nyhavn Capital is currently considering several fund and managed account structures, including the possibility of using another firm’s local license to reduce time-to-market before becoming fully licensed in Sweden.

Bill Ackman: Investment Uncertainty isn’t Going Away No Matter Who Wins the Election (
Hedge fund billionaire Bill Ackman, who said in March that “hell is coming” for the US economy, is now warning of another risk. “Regardless of who our next president is, whether it’s President Trump or Biden, there’s going to be uncertainty, and uncertainty from a business point of view,” Ackman told CNN’s Christine Romans on Wednesday. Investors have a lot to chew on with the Covid-19 pandemic, an unprecedented recession, the presidential election in November and renewed US-China tensions. Ackman thinks it’s unrealistic to bet on a coronavirus vaccine before next year. As for the rest of 2020, the economic recovery will ebb and flow, he said, with rebounds at varying speeds across different parts of the country.

Alger Fund Added to HFRX Global Hedge Fund Index (Hedge Week)
Alger Management’s Alger SICAV – Alger Dynamic Opportunities Fund has been selected as a constituent in the HFRX Global Hedge Fund Index. The Alger Dynamic Opportunities Fund is a long/short hedged equity fund that invests primarily in US-domiciled companies. It aims to provide investors with long term capital appreciation, downside protection, and lower volatility. Investors in the Fund have access to two premier growth equity managers – Fred Alger Management, LLC and Weatherbie Capital, LLC – that have a combined 25-plus years of hedged equity experience. The portfolio management team is led by Alger CEO and Chief Investment Officer Dan Chung, CFA.

Countries with the Smallest Government Per Capita in the World


Hedge Funds Gain Favor in Latest Sign of Rebound (Bloomberg)
Big investors including pensions and family offices are taking another look at hedge funds, as they navigate the market turbulence sparked by the Covid-19 pandemic. While the industry was hit with yet another quarter of outflows — its ninth in a row — the results of a Bloomberg Mandates survey suggest better times are ahead. This comes weeks after a Credit Suisse Group AG poll found a similar trend: Net demand for hedge funds was the highest in at least five years, with interest in the industry outranking others.

Institutional Investors Boosting Hedge Fund Allocations, Survey Finds (
Institutional investors preparing for a continued economic downturn in the second half of the year are turning to a long-disparaged asset class for safe haven. About half of asset allocators surveyed by Bloomberg Mandates said they have increased investments in hedge funds or are planning to this year. The June report surveyed 50 institutional investors, mostly single or multi-family offices, from around the globe. Part of the growing interest in the asset class is more market volatility. While the stock market enjoyed a record 20% surge in the second quarter, investors are leery that an uptick in coronavirus cases, continued social unrest, as well as the upcoming US elections, may lead to a downturn.