Top Hedge Fund Manager Kyle Bass on U.S.-China Relations Under Biden (CNBC)
Kyle Bass, Hayman Capital Management chief investment officer, joined “Squawk Box” on Wednesday to discuss what he thinks may be the biggest issues President-elect Joe Biden when it comes to U.S.-China relations.
Bitcoin Whale Emerges With $1 Billion, Alan Howard’s Backing (Bloomberg)
A hedge fund specializing in volatility bets has emerged as one of the largest investors in Bitcoin after quietly buying more than $600 million in cryptocurrencies and joining forces with Alan Howard, the co-founder of Brevan Howard Asset Management. Eric Peters, chief executive officer of One River Asset Management, said in an interview he set up a new company to seize on the growing interest in cryptocurrencies among institutional investors. In addition to its initial purchases, One River Digital Asset Management has commitments that will bring its holdings of Bitcoin and Ether to about $1 billion as of early 2021, he said.
Louis Bacon’s Life Work Is Complete (Deal Breaker)
Disputes between neighbors have a tendency to take on a life of their own, to grow out of all proportion to the disagreement at their heart. This is especially true of very rich neighbors, where even relatively piddling matters seem to proceed directly to harassment, property destruction and litigation. And so it is with discount Canadian fashion mogul Peter Nygard and American hedge fund mogul Louis Bacon. What began as a tiff over a driveway in the tony Bahamas enclave of Lyford Cay (one that was actually settled seven years ago) exploded into a full-on blood feud adorned with allegations of military-grade speakers, arson, insider-trading and attempted murder.
Hedge Funds Up 5.54 per cent in November, Says Backstop BarclayHedge (Hedge Week)
The hedge fund industry reversed two consecutive months of losses in November, returning 5.54 per cent for the month, according to the Barclay Hedge Fund Index, compiled by BarclayHedge, a division of Backstop Solutions. By comparison, the S&P 500 Total Return Index was up 10.9 per cent for November. For the year-to-date, the hedge fund industry was up 7.21 per cent through November. The S&P 500 Total Return Index gained 14.02 per cent over the same period.
Hedge Fund Performance Update: November 2020 (Preqin)
The Preqin All-Strategies Hedge Fund benchmark had a very strong November. Market optimism due to successful vaccine trials fueled gains of 7.45%. This pushed the 2020 YTD return to +13.27% and the 12-month return to +15.19%. By comparison, the S&P 500 gained 10.75% on the month to stand at +12.10% YTD. This factsheet presents the hedge fund performance benchmarks for October 2020. Plus, the YTD and 12-month return figures for all top-level strategies, structures, denominations, and size classifications.
Global Hedge Funds Industry AUM Up $128bn Over Past Eight Months Despite Investor Outflows (Opalesque.com)
Assets under management for the global hedge funds industry have rebounded increasing by US$128.0 billion over the past eight months since March 2020, said Eurekahedge. This has come from performance-driven gains of US$139.8 billion and net investor outflows of US$11.8 billion. This marks a sharp recovery following a US$264.1 billion asset decline in Q1 2020, revealed the December 2020 Eurekahedge Report. Meanwhile, hedge fund managers recorded their strongest return since 2009 and were up 4.50% in November, supported by the strong performance of the global equity market as represented by the MSCI ACWI (Local) which generated an 11.63% return throughout the month.