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.
Odey in Talks With Landseer to Transfer Flagship Hedge Fund (Bloomberg)
Odey Asset Management is in advanced talks to move Freddie Neave — the portfolio manager of its flagship hedge fund — to Landseer Asset Management UK, as the firm reaches the final stages of a revamp following sexual assault allegations against its founder Crispin Odey. Under the proposal, Landseer will become the investment manager of a new fund carved out from the restructuring of Odey European Inc. and OEI Mac Inc., both currently managed by Neave, Odey said in a statement dated Aug. 11.
City Hedge Funds Short Property Developers as House Prices Fall (Financial News)
Marshall Wace has taken a short position against Barratt Developments while Caxton is betting against Hammerson. London-based hedge funds are betting against property developers after UK house prices fell for the fourth consecutive month in July. City hedge fund Marshall Wace has a 0.92% net short position on Barratt Developments, the £4.4bn FTSE-100 residential property developer based in Coalville, the latest disclosure to the UK’s Financial Conduct Authority shows.
Hedge Fund Veteran Mark Yusko Predicts Two Catalysts Will Drive Bitcoin Up 410% – Here’s His View (CryptoSaurus.tech)
Mark Yusko, founder of Morgan Creek Capital, names two catalysts that could propel the price of bitcoin (BTC) to new all-time highs. In a new interview with Kitko News, Yusko They say Bitcoin is likely to surge due to the possible approval of a spot-based bitcoin exchange-traded fund (ETF) following its upcoming halving event. “I think that halving, $100,000 would be a fair value. So the fair value would go from $55,000 today to halving by next April, May, call it June…let’s call it the middle of summer next year, $100,000 would be the fair value.
Hedge Funds Continue Summer Gains – HFR (WealthBriefingAsia.com)
A snapshot of performance across a range of strategies in the world’s multi-trillion hedge fund sector shows that July was a positive year overall, with areas such as tech and financials doing particularly well. Hedge funds extended their June performance surge through July, new industry figures show. Gains were led by the technology, artificial intelligence and growth equity categories.
Monday 8/14 Insider Buying Report: TDW, SMCI (Nasdaq.com)
On Thursday, Tidewater’s Director, Robert Robotti, made a $3.04M purchase of TDW, buying 48,200 shares at a cost of $63.00 each. Tidewater is trading off about 0.9% on the day Monday. Before this latest buy, Robotti purchased TDW on 5 other occasions during the past year, for a total cost of $19.54M at an average of $38.13 per share. And at Super Micro Computer, there was insider buying on Friday, by Director Shiu Leung Chan who bought 4,000 shares at a cost of $265.57 each, for a total investment of $1.06M. Before this latest buy, Chan bought SMCI at 7 other times during the past year, for a total cost of $2.09M at an average of $90.79 per share. Super Micro Computer is trading up about 1.2% on the day Monday. Investors are able to grab SMCI at a price even lower than Chan did, with the stock trading as low as $248.40 in trading on Monday — that’s 6.5% under Chan’s purchase price.
$18M Bet On This Healthcare Stock? Check Out These 4 Stocks Insiders Are Buying (Benzinga)
Vistagen Therapeutics: The Trade: Vistagen Therapeutics, Inc. (VTGN) 10% owner Commodore Capital LP acquired a total of 775,756 shares an average price of $23.15,. To acquire these shares, it cost around $17.96 million. CVB Financial: The Trade: CVB Financial Corp. (CVBF) Director George A. Borba Jr acquired a total of 257,704 shares at an average price of $19.37. To acquire these shares, it cost around $4.99 million.
