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Hedge Fund and Insider Trading News: Ken Fisher, D.E. Shaw, Dalton Investments, Safehold Inc (SAFE), ResMed Inc. (RMD), and More

Fidelity Reviewing Ties with Ken Fisher After ‘Inappropriate’ Comments (Reuters)
BOSTON (Reuters) – Fidelity Investments said on Tuesday it is reviewing its relationship with Ken Fisher after the investment firm leader made “highly inappropriate comments” at a conference last week. “The views he expressed do not align in any way with our company’s values,” Fidelity spokesman Vincent Loporchio said in a telephone interview. Fisher Investments manages about $500 million within the Fidelity Strategic Advisers Small-Mid Cap Fund (FSCFX).

DE Shaw Gives Searing Indictment of Waste at Emerson Electric, Including Fleet of 8 Airplanes (CNBC)
D.E. Shaw, the $50 billion hedge fund that in recent years has engaged in shareholder activism along with its many other disciplines, released a voluminous report on Tuesday outlining all the ways it says Emerson Electric has failed shareholders over the last decade. The report, obtained by CNBC ahead of its release, starts a campaign to bring significant change to the industrial giant, including asking it to split its industrial automation business from its climate technology business. D.E. Shaw also calls for a significant effort to cut costs.

Insider Trading Eyeglasses

Alex Oakenman / shutterstock.com

A $3.4 Billion Hedge Fund Is Let Down by Japan on Foreign Buying Rules (Bloomberg)
The Japanese government’s attempt at imposing stricter monitoring rules on foreign investment in local equities is a “disappointing” step, according to California-based Dalton Investments LLC. The Finance Ministry last week proposed a measure that would require foreign investors to report in advance when they plan to buy more than 1% of shares in companies related to national security, compared with the current threshold of 10%.

Pay at Brevan Howard vs. pay at Eisler Capital Management (eFinancialCareers.com)
The hedge funds Brevan Howard and Eisler Capital Management have both just published accounts for 2018. As ever with hedge fund accounts, they’re slightly obfuscated by a mass of related materials, but they still provide an indication of how much London’s two big macro funds pay. Brevan Howard has in fact filed an entire array of accounts with the UK’s Companies House for various operating companies. These include Brevan Howard Asset Management LLP, Brevan Howard Asset Management Services, and Brevan Howard Company Secretarial Services, among others.

Left Brain Capital Management Announces Launch of High-Return Investment Research Firm (Businss Wire)
CHICAGO–(BUSINESS WIRE)–Left Brain Capital Management, an independent asset management firm, is pleased to announce the formation of a new company created to provide premium investment reports for portfolio managers seeking high-return investment opportunities. Left Brain Investment Research (LBIR) leverages an award-winning team of investment analysts to generate independent ideas for growth stocks and high yield bonds. Success of the firm’s Left Brain Capital Appreciation Fund and a mandate for superior capital appreciation compelled management to create Left Brain Investment Research.

Hedge Funds Pumped More than $200 million Into a Family of Crypto Funds Last Quarter Even Though Performance Tanked (Business Insider)
Bitcoin got crushed. Hedge funds didn’t care. That’s the story of the third quarter, according to Grayscale Investments. The $2.2 billion asset manager runs 10 crypto-linked products. According to the firm’s recently released flow numbers, last quarter was the most money the firm has seen flowing into its products ever – with $254.9 million in total. And the overwhelming majority of those assets — 84% — came from hedge funds. That’s a marked increase from the first quarter of this year, when hedge funds represented just 56% of the flows.

Hedge Funds Down 0.30 per cent in Spetember (Hedge Week)
The Eurekahedge Hedge Fund Index was down 0.30 per cent in September, bringing its year-to-date return to 5.70 per cent. Roughly 28.3 per cent of hedge fund managers comprising the index have recorded double-digit gains over the first three quarters of 2019. The global hedge fund industry AUM has declined by USD22.4 billion as of September 2019 year-to-date. Net outflows figure for Q3 stood at USD34.3 billion, as investor redemptions continued to slow down. Hedge fund managers recorded USD46.4 billion and USD40.0 billion of net outflows in the first and second quarters of 2019 respectively.

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