Paul Tudor Jones Compares Fed Inflation Fight to a Moon Landing (Bloomberg)
Hedge fund billionaire Paul Tudor Jones likened Jerome Powell’s war against inflation to an attempt at a perfect moon landing, saying the Federal Reserve chair is facing the most challenging economic environment in 40 years. “There’s huge amount of savings that consumers have from all the Covid-relief bills and the stimulus that was applied both from a fiscal and monetary standpoint,” Jones, the founder of Tudor Investment Corp., said Tuesday in an interview with CNBC. “He is faced with that very difficult proposition of working that down without breaking things.”
Dalio’s Bridgewater cements rank in 2022 as Top Foreign Hedge Fund in China (Reuters)
Bridgewater has doubled its fund assets in China to more than 20 billion yuan ($2.93 billion) over the past year, according to two sources and government data, a feat that cements its position as the biggest foreign hedge fund in the country. The jump was aided by Bridgewater China’s raising of 2.7 billion yuan through a product launch in December, said the sources. That further underlined the popularity in China of billionaire founder Ray Dalio, a self-proclaimed Sinophile, and his “All Weather” strategy.
Hedge Fund Rokos Suffers 88% Drop in Revenue (Financial News)
Macro hedge fund Rokos Capital Management took a major revenue hit in its latest financial results despite recovering from its worst-ever decline in 2021. The £15.5bn hedge fund witnessed its revenue plunging to £119m for the year ended 31 March 2022 from £1.03bn for the year ended 31 March 2021 — marking an 88% year-on-year drop.
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2022: The Year of Traditional Trend-Followers (Hedge Nordic)
Stockholm (HedgeNordic) – Trend-following CTAs enjoyed one of their best years in 2022 amid a lack of equilibrium across regions and asset classes. The pool of 20 large CTAs tracked by Société Générale booked a record gain of 20 percent for the year, outpacing the previous record set in 2008. The smaller pool of Nordic CTAs – or managed futures vehicles – ended the year up only 3.9 percent even though Stockholm-based Lynx was one of the top performers globally.
Hildene Capital Management partners with SILAC Insurance Company (Hedge Week)
Hildene Capital Management, a credit-focused asset manager with approximately $12 billion of assets under management, has entered into a long-term strategic alliance with US annuity provider SILAC Insurance Company (SILAC). As part of the alliance, Hildene has acquired a strategic minority ownership interest in the SILAC. Additionally, SILAC has entered into a $2.5 billion quota share agreement with Hildene affiliate Ludlow Re SPC, Ltd (Ludlow Re), which will provide reinsurance for SILAC’s annuity products. Hildene will also provide investment management oversight to $2 billion of SILAC’s general account assets.
