Woodford Investors To Get up to £235 Million in Compensation (Bloomberg)
Investors trapped in Neil Woodford’s failed equity fund are set to get up to £235 million ($292 million) in compensation after a regulatory probe found its administrator mismanaged liquidity in the fund. The redress will cover some of the losses to over 300,000 investors stuck in the disgraced stock picker’s LF Woodford Equity Income Fund, the Financial Conduct Authority said in a statement Wednesday. Link Fund Solutions, which was the fund administrator, will pay the sum with help from its parent company Link Group.
Hedge Fund BFAM, DK, Others File Lawsuit Against Chinese Developer for Debt Repayment (Reuters)
Hedge fund BFAM Partners and a few other investors have filed a lawsuit in New York against Chinese property developer Glory Health, seeking $201 million in debt repayment, according to a court filing seen by Reuters. Hong Kong-based BFAM and an investment vehicle of U.S. hedge fund manager Davidson Kempner, known as DK, together with some other investors outside of China were collectively owed $141.4 million in principal, $9.4 million in premiums, and $50.4 million in interest, according to the filing dated April 14.
Hedge Fund Boss Says Newcrest, Teck Resources Bids could be Improved (AFR.com)
Hedge fund boss Rafi Lamm said he wouldn’t be surprised if other bidders emerged to buy gold and copper play Newcrest Mining after Canada’s Newmont Mining lobbed an improved $29.4 billion takeover offer last week. Mr Lamm’s L1 Capital Long Short Fund has returned 42.3 per cent per year over the past three years, beating its benchmark S&P/ASX 200 Accumulation Index by 16.5 per cent as of March 31.
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Cathie Wood’s Been Busy Adding to ARK Invest’s Holdings, Buying Tesla, Coinbase and More (Nasdaq.com)
Cathie Wood’s ARK Investment Management filed its latest 13F with the SEC this week, reporting fund movements for the March quarter. ARK Invest is a boutique investment firm that focuses on investing in disruptive technologies and innovative companies. The investment strategy was sound in an environment of falling cash rates and expanding valuations following on from the 2008 global financial crisis that rewarded her investors with consistent market outperformance.
The 3 Most Influential Hedge Fund Managers You Need to Follow (InvestorPlace)
Investors should pay attention to these hedge fund managers. Here are three of the most influential hedge fund managers you need to follow. Ray Dalio: He grew Bridgewater Associates into the world’s biggest hedge fund with more than $125 billion of assets. Michael Burry: This mercurial hedge fund manager called the 2008 financial crisis and many other calamities. Warren Buffett: The most successful investor of all time manages a portfolio valued at nearly $350 billion.
