Odey Swan Fund Assets Collapsed 37% in Two Days Before Closing (Bloomberg)
The assets of Odey Asset Management’s Swan fund slumped 37% in the run-up to the firm’s decision to shut it down as clients rushed for the exit following fresh sexual assault allegations against its founder Crispin Odey. The fund managed $81.2 million on June 12, down from $128.3 million on June 8, according to data compiled by Bloomberg. Last week, the Financial Times published new investigation into Odey’s conduct over two decades that included multiple allegations of sexual harassment and assault.
Unveiling the Future of Investing: Fintech Hedge Funds (GizmoLead.com)
A. Definition and overview of fintech hedge funds: Fintech hedge funds represent a convergence of financial technology (fintech) and the traditional hedge fund model. These funds leverage advanced technologies, data analytics, and automation to enhance investment strategies, decision-making, and risk management. Fintech hedge funds combine the agility and innovation of fintech with the established framework of hedge funds, aiming to generate alpha and deliver superior returns for investors.
Jada Fund of Funds Invests in Investcorp’s $500 Million Saudi Pre-IPO Growth Fund (Wamda.com)
Jada Fund of Funds, a subsidiary of Saudi Arabia’s Public Investment Fund (PIF) has invested in Bahrain’s Investorcorp, a $500 million pre-IPO growth fund. The fund, launched last year, aims to invest in a diversified portfolio of high-growth startups looking to go public over the next few years. Last August, Investcorp led a $100 million pre-IPO funding round in TruKKer, a trucking marketplace, with over 45,000 trucks on its platform, and NourNet, a local ICT company serving 1,200 corporate clients operating across over 20 industries.
Wednesday 6/14 Insider Buying Report: AMPS (Nasdaq.com)
On Monday, Director William F. Concannon bought $329,367 worth of Altus Power, buying 60,000 shares at a cost of $5.49 each. This purchase marks the first one filed by Concannon in the past twelve months. Altus Power is trading down about 2% on the day Wednesday. Concannon was up about 7.3% on the buy at the high point of today’s trading session, with AMPS trading as high as $5.89 at last check today.
$1M Bet On This Tech Stock? Check Out These 3 Stocks Insiders Are Buying (Benzinga)
ACI Worldwide: The Trade: ACI Worldwide, Inc. (ACIW) Director, President and CEO Thomas W Warsop III acquired a total of 43,000 shares an average price of $23.63. To acquire these shares, it cost around $1.02 million. Topgolf Callaway Brands: The Trade: Topgolf Callaway Brands Corp. (MODG) Director Adebayo O Ogunlesi acquired a total of 100,000 shares at an average price of $19.45. To acquire these shares, it cost around $1.94 million.
