Andurand Oil Fund Slips 15% in March, Down 34% Year to Date – Societe Generale (Reuters)
Hedge fund manager Pierre Andurand’s Commodities Discretionary Enhanced Fund ended March down 15% and 34% lower for the year so far, eliminating over half of the fund’s 2022 gains, said a client note from Societe Generale seen by Reuters. March saw a wild ride in commodities prices with crude oil futures slumping 18% in markets roiled by the banking crisis. Prices reversed on March 20 and rebounded another 18% but front-month oil ended March at $75.67, down around $2 on the month.
Big Hedge Funds Face New 72-Hour Deadline To Report Losses (FA-Mag.com)
Large hedge funds would have just three days to privately tell US regulators about extraordinary investment losses and major margin events under a new rule that’s set to be approved by the Securities and Exchange Commission. The regulation, which a majority of the SEC’s five commissioners is expected to adopt Wednesday, significantly ramps up oversight of the biggest hedge funds. Rather than quarterly snapshots, watchdogs would for the first time get an almost real-time look at major events at managers that oversee at least $1.5 billion in assets. Private equity firms would also face new reporting requirements.
Asia Startup Hedge Funds Suffer Fundraising Slump (Funds Global Asia)
First-time hedge funds in Asia saw their poorest fundraising year since the global financial crisis, according to recently published data. Heightened geopolitical risks and Covid restrictions in Hong Kong both contributed to a year which saw hedge fund startups raise just US$3.5 billion in capital, the lowest total in 13 years. There were also fewer hedge fund launches than in previous years, according to data from hedge fund platform With Intelligence. There were just 45 new hedge funds in the region, excluding Japan, compared to the 78 that launched in 2021.
Wednesday 5/3 Insider Buying Report: ABCB (Nasdaq.com)
On Monday, Chief Strategy Officer James A. Lahaise bought $330,287 worth of Ameris Bancorp, buying 10,000 shares at a cost of $33.03 each. Ameris Bancorp is trading up about 3.1% on the day Wednesday. Investors can grab ABCB at a price even lower than Lahaise did, with shares trading as low as $30.82 at last check today which is 6.7% below Lahaise’s purchase price.
$6M Bet On Beacon Roofing Supply? Check Out These 3 Stocks Insiders Are Buying (Benzinga)
Beacon Roofing Supply: The Trade: Beacon Roofing Supply, Inc. (BECN) 10% owner CD&R Boulder Holdings, L.P. acquired a total of 99,880 shares an average price of $60.07. To acquire these shares, it cost around $6 million. KeyCorp: The Trade: KeyCorp (KEY) Director Richard J Hipple acquired a total of 2,200 shares at an average price of $10.66. To acquire these shares, it cost around $23.45 thousand.
