Citco: Hedge Fund Performance Remains Positive in Q2 (Opalesque)
According to new data from asset servicer Citco, hedge funds saw an overall weighted average return of 2.77% in Q2, taking YTD average weighted returns to 8.04%. Hedge funds have now had three consecutive quarters of gains, going back to Q4 2022, Citco data shows. Almost 70% of all funds delivered positive performance in the latest three-month period. Equities and multi-strategy funds were the best performers in the second quarter, with weighted average returns of 4.52% and 2.54% respectively, taking their YTD returns to 10.34% and 10.14%.
Billionaire Hedge Fund Managers Don’t Fear Bank Of Japan (Forbes)
At what point did the Bank of Japan become an afterthought for global markets? This question isn’t as flippant as it might seem. Central bank power rests on a combination of mystery, fear and unpredictability. Over the last 30 years, the Federal Reserve demonstrated these qualities along with the Bundesbank of old. The European Central Bank has shown some teeth now and again. The BOJ, by sharp contrast, has been all smiles, predictably and lacking in sticks to compliment the carrots it’s always doling out. This tedium decade after decade comes at a price.
US Hedge Funds Unload $700 Million of China ADRs, Morgan Stanley Says (Bloomberg)
US-based hedge funds are selling into the rally in Chinese stocks, according to Morgan Stanley. The fast-money managers have unloaded roughly $700 million in New York-listed shares of Chinese companies this month, strategists led by Gilbert Wong wrote in a Thursday report, citing the bank’s analysis. PDD Holdings Inc., Yum China Holdings Inc. and Vipshop Holdings Ltd. have been among the names sold down the most by long-only managers, the strategists said.
$40M Bet On Acumen Pharmaceuticals? Check Out These 3 Stocks Insiders Are Buying (Benzinga)
Acumen Pharmaceuticals: The Trade: Acumen Pharmaceuticals, Inc. (ABOS) Director Rajeev Shah acquired a total of 5,161,290 shares an average price of $7.75. To acquire these shares, it cost around $40 million. Berkshire Hills Bancorp: The Trade: Berkshire Hills Bancorp, Inc. (BHLB) President and CEO Nitin Mhatre bought a total of 1,500 shares at an average price of $22.29. To acquire these shares, it cost around $33,435.
Billionaire Accused of Insider Trading Puts Up His $250 Million Super Yacht for Bail (The Street)
British Billionaire Joe Lewis is trying all he can to avoid jail time, including ponying up one of the world’s most expensive yachts. The Tottenham Hotspur owner pleaded not guilty to insider trading on July 26 and was released on a $300 million bond that will be secured by his yacht, named Aviva, worth an estimated $250 million, and a private plane.
