Bridgewater’s Flagship Fund Posts Gains of 32% Through June (Reuters)
NEW YORK, July 5 (Reuters) – Hedge fund manager Bridgewater Associates‘ flagship Pure Alpha 18% volatility fund gained 32.2% in the first half of the year, according to a source familiar with the matter, beating sharp market declines. Pure Alpha’s return net of fee increase was helped by the Federal Reserve’s decision to raise interest rates to tame surging inflation. Increasing rates caused extreme swings in asset prices, the source added. In the first half of 2022, the S&P 500 was down roughly 20%.
Fund Manager of the Year Finalist’s Interview: Waverton (Investmentweek.co.uk)
Waverton is a finalist in this year’s Fund Manager of the Year Awards in four categories including: £ Strategic Bond, Global Bond, Mixed Investment 20-60% Shares and Mixed Investment 40-85% Shares. Here, Investment Week hears from Jeff Keen, Head of Fixed Income and Manager of the Waverton Sterling Bond Fund and the Waverton Global Strategic Bond Fund, about the team running the fund, the key to their investment process and how the team negotiated difficult market conditions at the start of 2022.
UK Equity Fund Outflows Top £6.4bn as Bear Market Fears Take Hold (Financial News)
UK-company-focused funds posted their worst-ever month of outflows in June, with more than £1bn heading for the exit as investors feared the impact of a bear market. Data from Calastone, which tracks money entering and leaving funds in the UK from financial advisers, fund supermarkets and wealth managers, shows UK equity funds bled £1.14bn over the month – the 13th consecutive month of investor withdrawals.
Tuesday 7/5 Insider Buying Report: MAC, FDX (Nasdaq.com)
At Macerich, a filing with the SEC revealed that on Thursday, President Edward C. Coppola bought 60,000 shares of MAC, at a cost of $8.75 each, for a total investment of $525,000. Macerich is trading up about 2.6% on the day Tuesday. Before this latest buy, Coppola bought MAC at 3 other times during the past twelve months, for a total investment of $594,548 at an average of $11.41 per share. And at FedEx, there was insider buying on Thursday, by Director Amy B. Lane who bought 607 shares at a cost of $228.12 each, for a total investment of $138,467. This purchase marks the first one filed by Lane in the past year. FedEx is trading up about 2.1% on the day Tuesday.
HP And 3 Other Stocks Insiders Are Selling (Benzinga)
HP: The Trade: HP Inc. (HPQ) President and CEO Enrique Lores sold a total of 34,000 shares at an average price of $32.67. The insider received around $1.11 million from selling those shares. Keurig Dr Pepper: The Trade: Keurig Dr Pepper Inc. (KDP) President, Cold Beverages Derek Herbert Hopkins sold a total of 37,500 shares at an average price of $35.55. The insider received around $1.33 million as a result of the transaction.
