Australian Hedge Fund VGI Planning Merger with Rival (Hedge Week)
Australian hedge fund VGI Partners is considering a merger of sale of its business with several rival firms including Regal Funds Management, according to a report in the Sydney Morning Herald. VGI, which runs two listed funds – VGI Partners Global Investments and VGI Partners Global Investments – and also has an unlisted hedge fund operation, has seen has seen its shares slump 40 per cent in the past 12 months amid performance concerns.
Letter: Alden Capital’s Other Papers Don’t Serve Their Community (STL Today)
Regarding “Hedge fund sues Post-Dispatch owner following rejection of takeover bid” (Dec. 15): St. Louis residents should be very happy and proud that Lee Enterprises, the Post-Dispatch’s parent company, rejected the takeover by hedge fund Alden Global Capital. This group has taken over many prominent newspapers. Both the Denver Post and the Boulder Daily Camera were two good newspapers before the acquisition; now the Camera is barely 20 pages.
Ray Dalio Advises Against Owning Cash and Bonds Amid Low Interest Rates (Financial Post)
Some say cash is king. But according to Ray Dalio, founder of the world’s largest hedge fund, Bridgewater Associates, it may not be wise to keep too much of your investment money in cash (or bonds) these days. “This printing of money and buying of debt assets has driven interest rates so low that cash and bonds are stupid to own,” he wrote in a post on LinkedIn. “I think one should consider minimizing one’s ownership of cash and bonds in dollars, euros, and yen.”
Andurand, Westbeck Hedge Funds Soar on Back of Commodities Rally (Bloomberg)
Commodities trader Pierre Andurand capped another strong showing in 2021, with one of his hedge funds returning 87%, according to two people with knowledge of the matter. The advance by the Andurand Commodities Discretionary Enhanced Fund followed a gain of 154% in 2020. His older Andurand Commodities Fund closed 2021 up 36%. The Andurand Climate and Energy Transition Fund, formed in July, returned 28%, the people said.
Forget Shareholder Resolutions, Fund Manager Says: Hire Better Directors (Reuters)
Jan 10 (Reuters) – A Texas-based fund manager is not jumping on the bandwagon of peers backing shareholder resolutions that call on companies to take stronger action on climate change. Dimensional Fund Advisors argues it would be more effective to just replace corporate directors who fail to address the issue. Austin-based Dimensional backed just a tiny fraction of the climate-related shareholder resolutions tracked by Boston-based advocacy group Ceres last year.