George Soros Prepares to Trade Cryptocurrencies (Bloomberg)
George Soros called cryptocurrencies a bubble in January. Now his $26 billion family office is planning to trade digital assets. Adam Fisher, who oversees macro investing at New York-based Soros Fund Management, got internal approval to trade virtual coins in the last few months, though he has yet to make a wager, according to people familiar with the matter. A spokesman declined to comment.
Citadel’s Flagship Funds Rise 4.3% in First Quarter (Bloomberg)
The flagship hedge funds at Ken Griffin’s Citadel Investment Group rose 4.3 percent in the first quarter, outperforming peers. Gains from commodity, equity and quant wagers helped the firm’s multistrategy Wellington and Kensington funds gain 1.4 percent last month, a person familiar with the matter said. The first-quarter returns beat Hedge Fund Research Inc.’s Global Hedge Fund Index, which sunk 1 percent in that time. Citadel, which manages $28 billion, saw its Global Fixed Income fund jump 8.2 percent this year through March, including a gain of 0.1 percent last month, said the person, who asked not to be identified because the information isn’t public.
Anthony ‘The Mooch’ Scaramucci Speaks to NYUCR (NYUNews.com)
On Thursday this week, the NYU College Republicans hosted former White House Communications Director and hedge fund millionaire Anthony Scaramucci. A rowdy crowd of over 100 mostly College Republicans chanted “Mooch,” as he entered the lecture hall at 5 Washington Place. Scaramucci spoke briefly about his 11-day White House tenure before opening the floor to questions. During the hour of back and forth, Scaramucci spoke about labor and wages, admonished the president’s uncouth tone and stated his disagreement with Donald Trump’s use of the term “fake news.”
Some Tiger Management-related Hedge Funds Boast Gains in Turbulent 2018 (Reuters)
BOSTON (Reuters) – Several hedge funds who trace their ancestry to billionaire investor Julian Robertson’s Tiger Management are boasting positive returns for the year even as tumbling markets have left many rivals with losses. In the first three months of 2018, Glen Kacher’s Light Street Capital gained 11.8 percent while Chase Coleman’s Tiger Global rose 6.7 percent and Jonathan Auerbach’s Hound Partners was up nearly 1 percent, investors in the funds said. Light Street gained 1.9 percent in March, an investor said. Tiger Global lost 2.4 percent and Hound slipped 1.1 percent last month, the investors said.
South Korea’s Hyundai Mobis to Meet Elliott Next Week: Sources (Reuters)
SEOUL/NEW YORK (Reuters) – South Korea’s Hyundai Mobis (012330.KS) plans to meet U.S. activist hedge fund Elliott Management next week, two sources told Reuters, after Elliott launched a campaign to pressure Hyundai Motor Group to improve governance and boost returns. The meeting would take place in Europe as part of Hyundai Mobis’ investor conference sponsored by Citi, one of the two sources familiar with the matter said, without providing more details on what would be discussed or who would attend.