Hedge Funds Outperformed the S&P Total Return Index in April, Despite Losing 2.66% (Hedge Week)
Hedge funds once again outperformed the S&P Total Return Index in April, despite losing 2.66%, bringing the year-to-date loss to -5.55%, according to BarclayHedge. The S&P 500 Total Return Index shed -8.72% in April. The absorption of the month’s steep loss pushed the index further into the red, landing its year-to-date compounded return at -12.92%. A sizable majority of hedge fund subsectors posted losses in April. The sectors that did post monthly gains were led by the Emerging Markets Eastern Europe Index which bounced +4.97%.
An Increasing Number of Hedge Funds have Set Up UCITS and AIF Products Over the Last Decade (Opalesque)
The European funds market may be a complex environment, but ManCos are here to take on the burden of the paperwork and transform most funds into a European vehicle ready for distribution. A management company, a.k.a. ManCo, is a company that performs collective portfolio management services (e.g. portfolio management, administration and marketing) of UCITS and/or alternative investment funds. Luxembourg hosts more than 300 ManCos with a UCITS or an AIFM (Alternative Investment Fund Manager) licence, or both.
Hedge Fund Arca Says It’s Solvent Despite Blowup Rumors (The Block)
Arca—the digital asset hedge fund led by Wisdom Tree co-founder Ryan Steinberg—is not insolvent, despite rumors tied to its recent bets on Luna. The firm made headlines on Wednesday for a letter it sent out Tuesday to limited partners in its digital asset hedge fund that outlined how the firm “doubled down” on Luna-powered stablecoin UST.
Tiger Global Sidestepped Crypto Rout by Cashing Out When Going Was Good (Blockworks)
At long last, a silver lining for Tiger Global. The blue-chip hedge fund firm has been ravaged this year by punishing equity markets and pummeled by a steep technology-stock rout that contributed to a staggering 44% loss in the first four months of 2022 for founder Chase Coleman’s flagship vehicle.
Friday 5/13 Insider Buying Report: SBUX, STGW (Nasdaq.com)
At Starbucks, a filing with the SEC revealed that on Tuesday, interim ceo Howard D. Schultz bought 137,500 shares of SBUX, at a cost of $72.67 each, for a total investment of $9.99M. Starbucks Corp. is trading up about 5.3% on the day Friday. And at Stagwell, there was insider buying on Thursday, by Director Eli Samaha who bought 644,452 shares for a cost of $6.90 each, for a total investment of $4.45M. Before this latest buy, Samaha purchased STGW at 2 other times during the past twelve months, for a total cost of $5.83M at an average of $7.84 per share. Stagwell is trading up about 6.9% on the day Friday. Samaha was up about 8.3% on the buy at the high point of today’s trading session, with STGW trading as high as $7.48 in trading on Friday.
B. Riley Insiders Went on a Stock-Buying Spree (Barron’s)
B. Riley Financial stock has lost nearly half of its value this year, and insiders, led by Chairman and co-CEO Bryant Riley, have scooped up $18.6 million of the financial-services firm’s shares. The stock (ticker: RILY) slipped on Friday, April 29, after the company had reported first-quarter earnings the night before. Over the next few trading days, insiders bought 395,547 shares at an average price of $47.02 each.
