Brevan Howard Hires New Mideast CEO From Ares (Bloomberg)
Brevan Howard Asset Management has appointed Oualid Lahsini as chief executive officer of its Middle East business. Lahsini, who was previously a partner at Ares Management Corp. and head of Middle East and Africa relationship management, will also head client partnerships in MENA and Asia for Brevan Howard, according to an emailed statement Monday. He will report to Natalie Faye Smith, head of strategy and the client partnership group.
Greenlight Bought Onex and NET Power Shares in Q2, Added Index Hedges – Letter (Reuters)
Greenlight Capital made investments in alternative asset manager Onex Corp (ONEX.TO) and clean energy company NET Power (NPWR.N) during the second quarter but also added portfolio protection through index hedges, the hedge fund told investors on Monday. Greenlight, run by David Einhorn, told investors in a letter seen by Reuters on Monday that inflation may be “stickier” than the market is currently expecting.
Life Sciences Funds Continue to Struggle (Institutional Investor)
The huge selloff in Apellis Pharmaceuticals isn’t the only reason why biopharma and related hedge funds are floundering. At least two life sciences and biopharma hedge funds were rocked last month when the shares of one of their largest holdings plummeted in price following bad news, in what was yet another mostly rough month for the sector’s funds. Avoro Capital Advisors was down 15 percent in July alone and is now off by 21 percent for the year, according to a person who has seen the results.
Image by Sergei Tokmakov Terms.Law from Pixabay
QQM in the Face of Unanticipated Market Reactions (Hedge Nordic)
Stockholm (HedgeNordic) – QQM Equity Hedge employs a systematic strategy that takes long positions in companies surpassing profit and turnover expectations, while taking short positions in companies that fall short of these expectations. The second-quarter reporting season offered a rare anomaly where companies meeting or surpassing expectations saw their share prices perform poorly after earnings announcements. Consequently, July proved to be a difficult month for QQM Equity Hedge, resulting in a loss of 5.2 percent.
Trend-Following Hedge Funds Playing Catch-Up on Equities Bets After Missing Out on Rally (Hedge Week)
Global equities have finally attracted the attention of trend-following hedge funds on the back of falling volatility as hopes rise that interest rate rises are coming to an end, according to a report by The Financial Times. The report cites data from Deutsche Bank as revealing that commodity trading advisers – hedge funds that rely on pattern-detecting algorithms and statistical models to direct trading across markets – have upped their exposure to equities in recent weeks to the highest level seen since before the pandemic.
