Crypto Hedge Fund BXB Capital: Interesting Development History (Cryptosaurus.tech)
As the world of finance continues to revolve around fiat money, crypto hedge fund BXB Capital is taking a different approach with its newest fund: It will raise funds only in Bitcoin, which will also be the primary vehicle for its trading strategy. The fund is expected to raise capital solely in Bitcoin, trade Bitcoin and give Bitcoin returns. According to a Markets Live Pulse study conducted by Bloomberg last week, Bitcoin is considered a more popular safe haven than the US currency. Tether, the creator of USDT, the world’s largest stablecoin, said earlier this month that he wants to invest up to 15% of his revenue in Bitcoin on a monthly basis as he diversifies his reserves away from US government debt. USA
ASIC Asks Hedge Funds for Trades Amid ‘Naked’ Shorts Crackdown (AFR.com)
Hedge funds and investment banks are being ordered to produce documents to prove they are complying with short-selling regulations, as the corporate regulator redoubles its surveillance efforts amid more volatile markets set off by the global banking crisis. In particular, the Australian Securities and Investments Commission is concerned about short selling occurring without owning or borrowing the underlying shares, an illegal practice known as “naked” short selling.
Mirae Asset Mutual Fund launches Mirae Asset Silver ETF (Economic Times)
Mirae Asset Mutual Fund has announced the launch of Mirae Asset Silver ETF, an open-ended scheme replicating/tracking Domestic Price of Silver. The New Fund Offer (NFO) of the scheme is open and it will close for subscription on June 6. Scheme re-opens for continuous Sale & Repurchase on June 12.
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SS&C GlobeOp Hedge Fund Performance Index: April performance 0.32% (Opalesque.com)
Opalesque Industry Update – SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced the gross return of the SS&C GlobeOp Hedge Fund Performance Index for April 2023 measured 0.32%. Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index advanced 0.16% in May. “SS&C GlobeOp’s Capital Movement Index for May 2023 shows net flow growth of 0.16% into hedge funds,” said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. “This is a quiet month of activity as investors assess the opportunity set of investments in the context of monetary and macro-economic uncertainty.” SS&C GlobeOp Hedge Fund Performance Index.
MEFIC Capital named Fund Manager of Saudi Arabia’s first Film Investment Fund (Zawya.com)
RIYADH: MEFIC Capital, a leading financial services company in Saudi Arabia, has announced it will be Fund Manager for the Kingdom’s First Film Investment Fund. An agreement to establish the fund was signed last week by Saudi Cultural Development Fund, MEFIC Capital and ROAA Media Ventures, in the presence of HH Prince Badr bin Abdullah bin Farhan Al Saud, Saudi Arabia’s Minister of Culture, at the 76th Edition of the Cannes Film Festival.
3 Fund Managers Still Buying Nvidia Stock (InvestorPlace)
If there were any doubt that Nvidia (NASDAQ:NVDA) stock should be on your list, the chip company’s Q1 2024 results just put that to bed. I’ve been a fan of Nvidia CEO Jensen Huang for a long time. In September 2021, I said he was one of America’s most influential CEOs. The 25% jump in NVDA stock on the solid quarter puts the chip firm within $60 million of becoming the industry’s first trillion-dollar company.
Singapore’s Temasek Cuts Senior Managers’ Pay After FTX Losses (The Wall Street Journal)
Singapore state-investment company Temasek Holdings said it has cut the compensation of its senior management and a team that led it to invest $275 million in crypto exchange FTX, as the country tries to move past an embarrassing loss that drew much local criticism.
Canada Launches $755M Social Finance Fund to Boost Market Growth (MirageNews.com)
Social purpose organizations, such as social enterprises, non-profits, charities and co‑operatives, are at the forefront of tackling Canada’s persistent social and environmental challenges, and they are key contributors to the Canadian economy. However, social purpose organizations face barriers and systemic biases that exist in the current finance ecosystem. Today, the Minister of Families, Children and Social Development, Karina Gould, officially launched the $755 million Social Finance Fund, which is a groundbreaking, long-term initiative to advance the growth of the social finance market in Canada.
Friday 5/26 Insider Buying Report: EVA, BOWL (Nasdaq.com)
At Enviva, a filing with the SEC revealed that on Thursday, Director John C. Bumgarner Jr. purchased 100,000 shares of EVA, for a cost of $8.50 each, for a total investment of $850,000. Enviva is trading up about 1.4% on the day Friday. Before this latest buy, Bumgarner Jr. bought EVA on 4 other occasions during the past twelve months, for a total cost of $2.97M at an average of $12.47 per share. And at Bowlero, there was insider buying on Monday, by Chief Financial Officer Robert M. Lavan who purchased 17,162 shares at a cost of $11.66 each, for a trade totaling $200,149. This purchase marks the first one filed by Lavan in the past year. Bowlero is trading off about 0.8% on the day Friday. So far Lavan is in the green, up about 5.0% on their buy based on today’s trading high of $12.24.
$9.6M Bet On Energy Transfer? Check Out These 4 Stocks Insiders Are Buying (Benzinga)
Lazydays Holdings: The Trade: Lazydays Holdings, Inc. (LAZY) Director Christopher Shackelton acquired a total 731,627 shares an average price of $11.20. To acquire these shares, it cost around $8.19 million. Akero Therapeutics: The Trade: Akero Therapeutics, Inc. (AKRO) Director Walmsley Graham acquired a total of 520,000 shares at an average price of 29.69. To acquire these shares, it cost around $15.44 million.
