Hedge Fund Manager Dan Niles Explains Why He’s Betting Against Reopening Stocks (CNBC)
AlphaOne Capital Partners founding partner Dan Niles said Tuesday that he has been building short positions over the past couple of weeks in some of the stocks most exposed to the impact of the pandemic. Niles said on CNBC’s “Squawk Box” that he foresees a second wave of the coronavirus leading to extended shutdowns of segments of the economy and is betting against reopening stocks.
Eileen Murray Is Named to Lead Finra, Wall Street’s Self-Regulatory Arm (The Wall Street Journal)
Former co-CEO of Bridgewater, the world’s largest hedge fund, is to start her new job in August. Eileen Murray, the former co-chief executive of the world’s largest hedge fund, will take over as chairperson of Finra, Wall Street’s self-regulatory arm. Ms. Murray, 62 years old, was one of the investment industry’s highest-ranking female executives as co-CEO of Bridgewater Associates LP. In December, Bridgewater said Ms. Murray would step down as co-chief executive in March. She had shared the top job at Bridgewater with David McCormick since 2017.
Preqin Markets in Focus: Private Equity & Venture Capital in Southeast Asia’s Digital Evolution (Preqin.com)
Southeast Asia is one of the fastest-growing and most dynamic markets in the world. On the back of a bumper 2019 for the ASEAN private equity & venture capital industry, the global economic fallout from COVID-19 has had a significant impact on the market. Nonetheless, industry assets under management stand at a record high, and the investor pool is increasingly diverse and globalized. Amid challenging circumstances, PEVC players in the region are expanding their resources to meet a growing need for capital and tap unique, emerging opportunities.
Wary Hedge Fund Managers Aren’t Buying Rally in India Stocks (Bloomberg)
Hedge fund managers in India are joining global peers in preparing for another rout in equities, as the rally in local stocks overlooks the pandemic and a dim economic outlook. The cautious stance has cost some professional investors so far as the S&P BSE Sensex index has rebounded 35% from a March low, helped by a flurry of stimulus measures from the Indian government and its central bank. But the jury is still out with the International Monetary Fund cutting India’s economic growth outlook for the year to March by the most among all major economies.