Hedge Fund Founder Paul Marshall Calls Pro-Trump Rioter’s Death ‘Murder’, then Deletes Tweet (Financial News)
The co-founder and chairman of hedge fund giant Marshall Wace, Sir Paul Marshall, tweeted that the pro-Trump woman killed by authorities in Washington amounted to “cold-blooded murder” hours after a mob of thousands stormed the US Capitol. The 6 January storming of the building, which saw four people lose their lives, brought a temporary halt to the formal confirmation of the president’s election defeat.
Brevan Howard’s Main Hedge Fund Gains 27% in Best-Ever Year (Bloomberg)
Brevan Howard Asset Management has recorded its best year since the hedge fund firm began investing nearly two decades ago. The main fund at billionaire Alan Howard’s firm was up 27.4% last year, the most since 2003, according to an investor letter seen by Bloomberg. That compares with a 3.4% average return for macro hedge funds through November, according to data compiled by Bloomberg.
Back at the Family Table (Hedge Nordic)
Stockholm (HedgeNordic) – Hedge funds are back on the agendas of family offices. According to a survey by BlackRock and London-based asset-raising business Juniper Place, “recent market turmoil and the expectations of sustained volatility in the medium term has re-invigorated hedge fund appeal” among family offices. In a survey completed by 185 family offices globally, 38 percent of respondents intend to increase their exposure to hedge funds going forward, while the remaining respondents plan to maintain their exposure at the current level. “Strong indication of a reversal of the negative sentiment that we have observed in recent years,” writes the global family office survey report put together by BlackRock and Juniper Place.
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Prominent Activist Investors Post Record 2020 Returns Despite Pandemic-Muted Activity (Reuters)
BOSTON (Reuters) – Some investors including William Ackman and Glenn Welling, who push corporations to perform better, posted record-breaking returns in 2020 when activist investors generally backed off demands during a year marked by wild and unexpected business conditions. Ackman’s publicly traded Pershing Square Holdings fund rose 70.2%, marking the best-ever return at his 16-year-old firm Pershing Square Capital Management and one of the best in the hedge fund industry. In 2019, the fund rose 58%, also a record.
Dan Loeb’s Third Point Tops the Market in 2020 After Big December (CNBC)
Hedge fund manager Dan Loeb rode a strong December to beat the broader market in 2020, according to data obtained by CNBC’s Leslie Picker. The veteran investor’s fund took a big hit during the first quarter as the market fell sharply, but it recovered to finish with a gain that was in-line with historical results.
Hedge-Fund Founder Charged in $1.6 Billion Cum-Ex Probe (Bloomberg)
Sanjay Shah, who founded a London hedge fund that specialized in controversial Cum-Ex trades, was charged by Danish prosecutors in a 9.6 billion-krone ($1.6 billion) tax-fraud probe, according to a person familiar with the case. Two British citizens, including one who lives in Dubai, were charged, the Danish State Prosecutor for Serious Economic and International Crime said Thursday in a statement. Shah, who lives in Dubai, is one of the two people targeted in the indictment, according to the person, who declined to be identified because the process is confidential.
Breacher Capital Management Ends 2020 Up More than 55% (Opalesque.com)
Emerging manager Breacher Capital Management ended 2020 on a high note. According to performance information for investors reviewed by Opalesque, the BCM Partners fund ended 2020 up 58.19%. The other two BCM strategies – the Enhanced and Core funds were up 36.85% and 12.00%, respectively. Breacher’s year was impressive overall. The strategies were initially featured in our Corona Fighters Series after managing successfully through the abrupt market plunge in March 2020. The strategies were developed by Art Holly, CIO and Portfolio Manager. Holly was previously with Man Group.
CTAs Rise to Best Monthly Gain in Five Years as Managed Futures Hedge Funds End 2020 in “Spectacular” Style (Hedge Week)
Trend-following hedge funds and managed futures strategies enjoyed a storming finish to what was ultimately a turbulent and unpredictable year for the sector, with Société Générale’s CTA indices ending 2020 in positive territory following strong December performances. SocGen’s main SG CTA Index notched up its best monthly return in more than five years, advancing 5.54 per cent in December. The gain put the index – a daily snapshot of a select pool of 20 of the largest managed futures strategies – up 3.12 per cent annually for 2020.
North American Buyout Funds Have Provided Returns in Excess of Public Equities (Preqin)
Most North America-focused buyout funds that Preqin tracks have continued to provide returns in excess of public equity markets. As Fig. 1 shows, the weighted average net IRR of buyout funds has also exceeded returns attainable through investing in the US mid-cap space. What is driving this outperformance, and how can we best measure it? Buyout funds have become an increasingly important part of institutional investors’ portfolios. This comes as allocators seek alternatives to actively managed public equity funds.
A Tiny Hedge Fund Just Made History by Turning Into an ETF (Bloomberg)
While the asset management industry has been watching and waiting for a mutual fund to become an ETF for the first time, it turns out history was being made with a conversion of another kind. A tiny U.S. hedge fund has just become the first to convert into an exchange-traded fund.
So Maybe Steve Cohen Isn’t Quite As Fun And Gentle As He Suggests On Twitter (Deal Breaker)
New York Mets fans have high hopes that Steve Cohen will change everything about the way their team was mismanaged by his predecessors as owner. Most especially, they’re hopeful that he’ll invest some of the $1.4 billion he made last year in on-field talent. But they’d presumably hope he doesn’t embarrass them in other ways, like, say, by discriminating against female employees, as the Wilpons were allegedly wont to do.
D.E. Shaw’s Largest Hedge Fund Gains Nearly 20 pct in 2020 (Reuters)
BOSTON (Reuters) – D.E. Shaw’s largest hedge fund gained 19.4% after fees last year, almost doubling its returns from the previous year during a period of wild and unexpected business conditions. Gains were fueled mainly by systematic and discretionary strategies, said a person familiar with the returns but not authorized to discuss them publicly. The broader stock market index S&P 500 gained 16% last year.
These Are The Trends Experts Are Seeing In Hedge Funds Right Now (Forbes)
The COVID-19 pandemic has changed the way hedge funds do business, from raising money to investing and more. Some trends are here to stay, while others will change as the pandemic continues and eventually comes to an end. Active management is back: Craig Bergstrom, chief investment officer at Corbin Capital Partners, said in an email that active management had returned in 2020, exceptionally fundamental stock selection. He said results across the industry are mixed, but dispersion has meant that careful portfolio construction has been precious.
1life Healthcare Inc (ONEM) Chair, CEO and President Amir Dan Rubin Sold $14.5 million of Shares (Guru Focus)
Chair, CEO and President of 1life Healthcare Inc, Amir Dan Rubin, sold 337,444 shares of ONEM on 01/06/2021 at an average price of $43.03 a share. The total sale was $14.5 million. 1Life Healthcare Inc has a market cap of $5.63 billion; its shares were traded at around $42.290000 with and P/S ratio of 14.25. GuruFocus has detected 1 severe warning sign with 1Life Healthcare Inc.
The Sr Exec VP of HEICO (NYSE: HEI) is Selling Shares (Analyst Ratings)
Yesterday, the Sr Exec VP of HEICO (HEI), Thomas S. Irwin, sold shares of HEI for $1.15M. Following Thomas S. Irwin’s last HEI Sell transaction on January 11, 2019, the stock climbed by 55.8%. The company has a one-year high of $137.97 and a one-year low of $52.01. The Company has a Price to Book ratio of 980.36. Currently, HEICO has an average volume of 537.21K.
