Hedge Fund Millennium Tells Staff to Log Personal Crypto Trades with Compliance (Financial News)
Millennium Management sent a memo to staff telling them to disclose any personal trading in cryptocurrencies to the hedge fund giant’s compliance team. The hedge fund’s bosses sent the memo to employees in late September, according to two people with knowledge of the matter. While one of the people said they thought the memo was a new shift in policy, the other said the fund had required staff to disclose such holdings for the last three years and that the September note was intended as a reminder to employees to alert compliance teams to personal holdings in cryptocurrencies.
French Systematic Hedge Fund Quantology withstands September Equities Slide (Hedge Week)
French systematic long/short equity hedge fund Quantology Capital Management’s flagship fund ended last month in positive territory, with the market neutral strategy withstanding the sharp stock market reversal during September. The Quantology Absolute Return strategy, a long/short quant hedge fund which trades Nasdaq and NYSE-listed stocks, generated a 0.5 per cent gain over the course of September, outflanking the Nasdaq-100 Total Return Index, which dived some 5.7 per cent. Among the computer-based strategy’s best performing long bets were Australian software company Atlassian, and Datadog, the New York-based software-as-a-service data analytics platform provider. Solid gains were also provided by Grid Dynamics, an engineering IT services name, as well as west coast-based Beauty Health.
The QQM Acquisition is Approved (Hedge Nordic)
Stockholm (HedgeNordic) – Swedish fintech company Nowonomics has received approval from the Swedish Financial Supervisory Authority (Finansinspektionen) to acquire a 72 percent stake in hedge fund firm QQM Fund Management. The acquisition announced in late June enables NGM-listed Nowonomics to offer QQM’s systematic market-neutral fund, QQM Equity Hedge, on its money savings platform NOWO. “We are very happy that this important milestone has been reached and that we will thus be able to offer several exciting investment alternatives to our increasingly growing membership base.”
Elliott Takes Stake in Healthcare Trust of America, Pushes Sale (Bloomberg)
(Bloomberg) — Activist investor Elliott Investment Management confirmed it has a “substantial investment” in Healthcare Trust of America Inc. and is pushing for the company to run a strategic review, including exploring a potential sale. The Florida-based hedge fund, run by billionaire Paul Singer, said in letter to HTA’s board that it believes the company is undervalued and that a sale to private equity, a nontraded REIT or a strategic buyer would be in its best interest. Shares of the real estate investment trust rose as much as 1.7% Monday on the news, which confirmed a report earlier this month by Bloomberg News.
RA Capital’s New VC Fund (Institutional Investor)
The life sciences specialist is the latest hedge fund firm to raise additional capital to invest in private companies. The most active life sciences hedge fund firm in the private markets has launched its third venture capital fund. RA Capital raised $880 million for RA Capital Nexus Fund III, which was “significantly oversubscribed,” according to a firm announcement.
Here’s How The Hedge Fund Industry Has Changed Over The Last 20 Years (Forbes)
It’s no secret that the hedge fund industry has changed over the last 20 years, but the changes have happened gradually. The most significant change is access to information, and there’s certainly no going back. But there is much more to the story. Dominique Mielle, author of Damsel in Distressed, the first hedge fund memoir from a woman, looked back on her time at Canyon Partners, which has made a name for itself in the world of distressed investing.