The SEC has Blocked Anthony Scaramucci’s Bitcoin ETF (CNN Business)
New York – US regulators have rejected former White House communications director Anthony Scaramucci‘s hedge fund’s filing to list a bitcoin exchange-traded fund. The proposal from First Trust Advisors and SkyBridge, the hedge fund founded by Scaramucci, would have been called the First Trust SkyBridge Bitcoin ETF and tracked the “spot,” or current, price of bitcoin. It’s the latest in a series of Securities and Exchange Commission rejections of spot bitcoin ETFs, which seek to provide easy exposure to the cryptocurrency.
What’s Behind EcoR1’s Healthy Returns (Institutional Investor)
The one-time II Rising Star posted another strong gain in a year when many other life sciences hedge funds lost money. EcoR1 Capital has once again posted strong results. The life sciences fund headed by Oleg Nodelman was up 29 percent last year, according to an investor. This is especially impressive given that 2021 was a rough year for many life sciences hedge funds, especially those that load up on fledgling biopharma stocks…
Wall Street Titans Support One of Their Own, David McCormick, in Senate Bid (The Wall Street Journal)
David McCormick, the former chief executive of hedge fund giant Bridgewater Associates who is running for the open Senate seat in Pennsylvania, has the backing of some of Wall Street’s biggest names. Stephen Schwarzman and Ken Griffin are among those hosting a fundraiser in March for Mr. McCormick at Paul Tudor Jones’s home in Palm Beach, Fla., according to an invitation viewed by The Wall Street Journal.
Renaissance Technologies Sees USD15bn in Outflows Despite Double-Digit Returns (Hedge Week)
Quant-focused Renaissance Technologies has seen almost USD15 billion in outflows over the past 14 months, according to a Bloomberg report, despite the firm’s three publically-available hedge funds having delivered double-digit returns for investors in 2021. The reports says that the outflows initially started in 2020 after the RIEF, RIDA and RIDGE funds delivered negative returns of 19 per cent, 31 per cent, and 31 per cent respectively in 2020, while Renaissance’s private Medallion strategy generated positive returns of 76 per cent over the same period.
Carlson Capital Lost More than $1 Billion in Assets and Dozens of Employees Last Year Despite Above-Average Performance (Business Insider)
Billionaire Clint Carlson‘s flagship hedge fund outperformed the average fund last year. The firm’s hedge funds now manage $1.5 billion, down $1.3 billion from a year ago. Firm headcount fell from 93 to 69 as well, with just 31 people working in investment roles now. Usually when assets and employees are fleeing, it’s because investors aren’t happy with returns and workers aren’t getting paid.
Novogratz’ Galaxy Digital Hires Blackstone Executive for Asset Management Arm (Reuters)
BOSTON, Jan 20 (Reuters) – Galaxy Digital Holdings Ltd (GLXY.TO), a crypto-oriented financial services firm, on Thursday said it hired an executive from asset management giant Blackstone Group (BX.N) to help grow its business and expand product offerings.
London Lodbrok Capital Hedge Fund Posts 32% Gain for 2021 (Bloomberg)
Lodbrok Capital LLP’s European Credit Opportunities Fund gained 32% last year thanks to investments on Swiss bakery firm Aryzta AG, U.K. oil services firm Valaris Plc and German industrial property company Deutsche Industrie REIT AG, according to an investor letter.
Tudor Portfolio Manager on Where She’s Finding Alpha in the Tech Sector with Rising Rates (CNBC)
With the prospect of higher interest rates looming, 2022 has already been a tough year for the tech sector. The Invesco QQQ ETF has fallen sharply year-to-date but one tech investor is braving the turbulence. Ulrike Hoffmann-Burchardi recently launched a new strategy within Tudor Investment Corp. called T++ with a specific focus on technology stocks. She sat down with Delivering Alpha to discuss her current hedging strategy along with where she’s finding alpha in the technology sector.
Hintze’s Hedge Fund CQS Planning Green CLO (Hedge Week)
Michael Hintze’s hedge fund CQS is is considering launching a ‘green’ collateralised loan obligation (CLO) in Europe according to a report by Bloomberg, as it looks to further expand its ESG offering. The report says that CQS, which already holds about 60 per cent of its USD2.6 billion assets under management via Article 8 ESG mandates, has written to investors to outline the plan.
Friday 1/21 Insider Buying Report: PSXP, CBAY (Nasdaq.com)
At Phillips 66 Partners, a filing with the SEC revealed that on Thursday, Director Mark Haney bought 1,623 shares of PSXP, for a cost of $44.53 each, for a total investment of $72,278. Bargain hunters have the opportunity to buy PSXP at a price even lower than Haney did, with the stock changing hands as low as $41.56 in trading on Friday — that’s 6.7% below Haney’s purchase price. Phillips 66 Partners is trading off about 3.4% on the day Friday. This purchase marks the first one filed by Haney in the past year. And on Wednesday, Chief Medical Officer Dennis D. Kim purchased $60,800 worth of CymaBay Therapeutics, purchasing 20,000 shares at a cost of $3.04 each. This purchase marks the first one filed by Kim in the past twelve months. CymaBay Therapeutics is trading up about 12.2% on the day Friday.
Police Officer, Others Charged with Insider Trading Related to Chipmaker Merger (Reuters)
(Reuters) – A Massachusetts police officer and two friends were arrested on Wednesday on charges they conspired to engage in insider trading based on non-public information about Analog Devices’ planned acquisition of fellow chipmaker Linear Technology in 2016.
