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Hedge Fund and Insider Trading News: Neil Woodford, Falcon Edge Capital, Alma Capital, Intra-Cellular Therapies Inc (ITCI), Ormat Technologies Inc (ORA), and More

After Woodford Fund Suspension, Focus Turns to its Stewards (Reuters)
LONDON (Reuters) – The suspension of Neil Woodford’s flagship fund has put the focus on a little known firm tasked with ensuring his investors were being looked after properly. While Woodford, one of Britain’s highest profile money managers, picked the companies in which the LF Woodford Equity Income Fund invested, the fund’s governance was overseen by a company with a much lower profile — Link Fund Solutions.

Alma Capital to Acquire DWS Global Hedge Fund UCITS Business (Hedge Week)
Alma Capital Investment Management is to acquire DWS’s Hedge Fund UCITS business, which provides investors with access to liquid alternative investment strategies in regulated UCITS funds through the DB Platinum fund range. The DWS Hedge Fund UCITS business selects third party hedge fund managers to build regulated UCITS funds which it distributes to an institutional client base. The platform has EUR2 billion in AuM (as of 31 March 2019) across six hedge fund UCITS using a broad range of strategies including alternative credit, event driven, managed futures and global macro.

Countries with the Smallest Government Per Capita in the World

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Hedge Funds Redemptions Down but Outflows Rule in April Fueled by Global Economy, Brexit Worries According to Backstop BarclayHedge (PRWeb.com)
The pace of hedge fund redemptions slowed in April but continued for a second straight month with $9.4 billion in net outflows worldwide, down from $11.0 billion in March. Despite the outflows, industry assets under management increased to more than $3.09 trillion due to $33.6 billion of trading profits for the month. April redemptions represented 0.3% of hedge fund industry assets, according to the Barclay Fund Flow Indicator, published by BarclayHedge, a division of Backstop Solutions. Recession fears stoked by an inverted yield curve, threats of escalation in the U.S.-China trade dispute and ongoing uncertainty over the U.K.’s Brexit outcome and its subsequent fallout all contributed to April’s redemptions.

Billionaire Investor: “Gold Has Everything Going For It” (Forbes)

Billionaire investor Paul Tudor Jones, founder of and hedge fund manager at Tudor Investment Corp., said in a Bloomberg interview last week that geopolitical disruptions have made gold his favorite trade in the next 12 to 24 months. The yellow metal “has everything going for it,” he said, adding that if it can reach $1,400 an ounce, it will push to $1,700 “rather quickly.”  The biggest catalyst for such a move, Jones believes, is the ongoing U.S.-China trade war and the broader implication of shrinking global trade. After 75 years of globalization and free trade, we’re seeing a return to the use of tariffs and other protectionist policies.

Bounce Raises $72 mn led by B Capital Group, Falcon Edge Capital (LiveMint.com)
BENGALURU: Two-wheeler rental startup Bounce raised $72 million in its series C funding round led by global technology fund B Capital Group and Falcon Edge Capital, a New York-based hedge fund. Accel Partners India, Accel Partners USA, Chiratae Ventures, Maverick Ventures, Omidyar Network India, Sequoia Capital India and Qualcomm Ventures, the investment arm of Qualcomm Inc, also participated in the round.

Opalesque Roundup: Nearly All Hedge Fund Categories Outperformed the S&P 500 in May: Hedge Fund News, Week 22 (Opalesque.com)
In the week ending June 14th 2019, a report said that hedge fund returns fell last month after four straight months of positive results to start the year, but managed to outperform the broader U.S. stock market – posting much slimmer losses. Nearly all hedge fund categories outperformed the S&P 500 in May, said eVestment. Equity strategies had the worst performance among primary markets hedge funds, but still outpaced the S&P by more than 400 basis points, with quantitative directional strategies delivering overall positive returns for clients during the month.

COLUMN-Hedge Funds Sell More Oil, But Balance of Risks is Shifting (Reuters)
LONDON, June 17 (Reuters) – Hedge fund managers sold yet more oil last week as a weaker outlook for the global economy and expectations of a hit to consumption more than offset concerns about sanctions on Iran and Venezuela and other production problems. Hedge funds and other money managers were net sellers of another 96 million barrels of petroleum-related futures and options contracts in the week to June 11, exchange and regulatory data shows.

Why Hedge Fund Manager Ray Dalio Is Wrong on Capitalism (MarketOracle.co.uk)
Ray Dalio is the thoughtful, somewhat controversial founder of the world’s largest hedge fund, Bridgewater Associates, which he started in 1975. While much of his writing is private, I (and many others) peruse every word we can of his and the Bridgewater team’s thinking. I find it to be some of the most interesting market commentary I read. Lately, Ray has been far more open with his thinking, posting books and essays. He posted on LinkedIn rather controversial stories: Why and How Capitalism Needs to Be Reformed, Parts 1 and 2 and a follow-up piece titled It’s Time to Look More Carefully at ‘Monetary Policy 3 (MP3)’ and “Modern Monetary Theory”. On first reading those, I will admit to thinking, “Ray Dalio is kinda, sorta wrong.” I agreed with much of Part 1, with a few quibbles. Ditto for Part 2. But when I read the third piece I found myself thinking, “Ray Dalio is really, really wrong.”

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