Hedge Funds Traverse Volatility and Inflation Trends with Biggest Jan-to-May Returns in 25 Years (Hedge Week)
Hedge funds are stacking up gains this year as shuttered economies continue to unlock, with the industry navigating volatility and inflation to score its best January-to-May performance in two-and-a-half decades. Hedge Fund Research’s main Fund Weighted Composite index – which tracks the investment performance of more than 1400 single-manager hedge funds across all strategy types – grew 1.7 per cent in May. That rise – which brought year-to-date returns up to the end of May to almost 10 per cent – was the eighth successive monthly gain for the index. In the trailing eight-month period, the FWC grouping surged 21.9 per cent, the third strongest such period on record.
Daniel Sundheim’s D1 Capital Partners Inks 10-Year Miami Office Lease (The Real Deal)
Daniel Sundheim’s D1 Capital Partners is the latest investment firm to plant a flag in Miami. The New York City-based hedge fund signed a 10-year, 25,000-square-foot office lease at Related Group’s new building in Coconut Grove, where the developer is now based. The building, at 2850 Tigertail Avenue, is now fully leased, according to a release.
Fitch Affirms Pershing Square Holdings, Ltd. at ‘BBB’; Outlook Stable (Fitch Ratings)
Fitch Ratings – New York – 08 Jun 2021: Fitch Ratings has affirmed Pershing Square Holdings, Ltd.’s (PSH) Long-Term Issuer Default Rating (IDR) and senior unsecured debt rating at ‘BBB’. The Rating Outlook is Stable. KEY RATING DRIVERS: The rating affirmation reflects PSH’s lack of redemption risk as a permanent capital vehicle, the strong long-term performance track record of Pershing Square Capital Management, L.P. (PSCM), moderate leverage, a highly liquid investment portfolio, and alignment of interests between management and PSH via management’s ownership of PSH common stock.
Crain’s Daily Gist Podcast: Hedge Fund’s Move to Cut Costs at Tribune May Backfire (Chicago Business)
Reporter Ally Marotti joins host Amy Guth to discuss how Alden Global Capital‘s plan to slash newsroom staff will make it more difficult to hold on to readers. Tribune Publishing’s new owner will likely try to turn a profit by slashing newsroom staff. Reporter Ally Marotti joins host Amy Guth to discuss how further cost-cutting will make it difficult for the Chicago Tribune and other newspapers to hold on to readers.
See Why Abu Dhabi’s Big Sovereign Wealth Fund Wants an AI Group for Investing (SWFInstitute.com)
As sovereign investors rapidly embrace data as the new oil, artificial intelligence (AI) can be perceived as the refineries. SWFI reported earlier that both the Abu Dhabi Investment Authority (ADIA) and Singapore’s GIC Private Limited are in a race to construct cutting-edge quantitative investment operations. Sovereign funds have been allocating to quant hedge funds like Citadel, Point72 Management, D.E. Shaw, Two Sigma Investments, and others for quite some time, and believe they can replicate those strategies internally, saving mounds of cash on exorbitant fees.
Tuesday 6/8 Insider Buying Report: WSC, CYCN (Nasdaq.com)
On Friday, WillScot Mobile Mini Holdings’s Director, Mark S. Bartlett, made a $700,720 purchase of WSC, buying 25,000 shares at a cost of $28.03 a piece. So far Bartlett is in the green, up about 4.9% on their buy based on today’s trading high of $29.41. WillScot Mobile Mini Holdings is trading up about 0.4% on the day Tuesday. This purchase marks the first one filed by Bartlett in the past year. And on Thursday, Director Terrance McGuire bought $299,997 worth of Cyclerion Therapeutics, buying 96,153 shares at a cost of $3.12 each. Cyclerion Therapeutics is trading up about 16.7% on the day Tuesday. So far McGuire is in the green, up about 22.4% on their purchase based on today’s trading high of $3.82.
A Director at Insulet (NASDAQ: PODD) is Selling Shares (Analyst Ratings)
Yesterday, a Director at Insulet (PODD), Sally Crawford, sold shares of PODD for $2.69M. Following Sally Crawford’s last PODD Sell transaction on January 17, 2014, the stock climbed by 231.6%. This is Crawford’s first transaction since reporting a Sell transaction on HOLX back in May 2020.
Visa Inc (V) EVP, CHIEF LEGAL & ADMIN OFFIC Tullier Kelly Mahon Sold $2.9 million of Shares (Guru Focus)
EVP, CHIEF LEGAL & ADMIN OFFIC of Visa Inc, Tullier Kelly Mahon, sold 12,735 shares of V on 06/02/2021 at an average price of $231.51 a share. The total sale was $2.9 million.
