Norway’s Stock Investing Behemoth Signals Shift to Active Management (The Wall Street Journal)
The world’s largest sovereign-wealth fund is planning a more active approach to investing, according to the updated strategy it unveiled on Wednesday. Norges Bank Investment Management, the arm of the Norwegian central bank that operates the 11.162 trillion Norwegian kroner fund, equivalent to $1.3 trillion, has revised its strategy several months into the tenure of Chief Executive Nicolai Tangen. Mr. Tangen joined in September after previously running a $21 billion London-based hedge fund.
Credit Suisse can Weather Archegos Fallout, Says IMF Mission Chief (Reuters)
ZURICH, April 7 (Reuters) – Credit Suisse should be able to weather a $4.7 billion loss from the Archegos hedge fund and the collapse of $10 billion worth of Greensill funds, with no meaningful risk to the Swiss financial sector’s health from the episodes, the IMF’s country mission head said. Shares in Credit Suisse have dropped by 25% in the space of a month, with Switzerland’s second biggest bank reeling from its exposure to the collapse first of Greensill Capital and then Archegos Capital Management.
$48 Billion Hedge Fund Giant Millennium Latest to Trade Bitcoin Trust (The Street)
Multi-strategy hedge fund operator Millennium Management had exposure to the late March free-fall of the net asset value of Grayscale Bitcoin Trust (GBTC), according to two sources with knowledge of the matter. While the price premium GBTC long traded at against Bitcoin collapsed recently, it’s unclear if New York-based Millennium booked any losses on the crowded trade.
Billionaire Investor Mike Novogratz Says He Bought Facebook Stock to Capitalize on the Company’s Digital Wallet Launch (Business Insider)
Billionaire Mike Novogratz revealed in a Bloomberg interview Tuesday that he has bought shares in Facebook ahead of its digital wallet launch. “I bought Facebook stock because the company is going to come out with the Novi wallet sometime this quarter I think,” he said. “All of a sudden you’re going to have 2.4 billion people connected to this crypto space.”
Hedge Fund ARK36: What Our Concordium Investment Says About the Crypto Space (FintechZoom)
Paving the way for institutional crypto investment. ARK36 is a cryptocurrency-focused investment fund. We aim to provide risk-adjust exposure to the cryptocurrency markets to professional investors. As an actively managed fund, we maintain a diverse portfolio of crypto assets that differ in terms of allocation size as well as performance potential and risk. Additionally, we actively pursue investments in new projects in the crypto space with a promising, asymmetric risk-to-reward ratio. We do so to maximize the performance of our fund for our investors while obtaining greater portfolio diversification at the same time.