Ackman Says SPAC Does Not Need to be Registered, Pushes Back on Lawsuit (Reuters)
BOSTON, Aug 17 (Reuters) – Billionaire hedge fund manager William Ackman on Tuesday said his blank check company is not an investment firm that needs to register with U.S. regulators, pushing back against an investor’s lawsuit that alleges that his Pershing Square Tontine Holdings has improperly invested in securities.
Marshall Wace Hedge Fund Warns Chinese ADRs Have Become ‘Uninvestable’ (Bloomberg)
For one of the world’s largest hedge funds, U.S.-listed Chinese stocks just aren’t worth the risk anymore. Paul Marshall, co-founder of $59 billion investment firm Marshall Wace, said China’s crackdown on its technology and education sectors has repelled investors, even if authorities have sought to limit the damage. It’s now more likely that the country’s listings will be largely confined to the mainland, the billionaire predicted.
David Tepper’s Appaloosa Trims Equity Holdings, Sells Off Disney, PayPal Stakes While Adding Uber, Pulte Bets (Market Watch)
David Tepper‘s Appaloosa LP disclosed late Monday that it reduced its investment in nearly all of its holdings during the second quarter, as the value of equities held by the hedge fund declined by about 31%. The value of Appaloosa’s equity holdings as of June 30 was $4.83 billion, down from $6.96 billion as of March 31, even as the S&P 500 rose 8.2% during that period.
Cathie Wood hits back at ‘Big Short’ Michael Burry over ARK ETF short (Financial News)
Star US fund manager Cathie Wood has hit back at renowned hedge fund manager Michael Burry after it was revealed he has made a big bet against her flagship strategy. Burry – the inspiration behind the Oscar-winning film “The Big Short” after correctly calling the US subprime mortgage crisis – disclosed in a regulatory filing on 16 August that his firm, Scion Asset Management, had put options against the ARK Innovation ETF which were valued at more than $31m during the second quarter.
Presight Capital, Hedge Fund Lead Series A Funding in Thrasio-style UpScalio (VCCircle)
Presight Capital and an undisclosed global hedge fund have led a $42.5 million Series A round of funding in Gurugram-headquartered UpScalio which aggregates and invests in e-commerce brands. Heliad Equity partners, MPGI, 468 Capital and Whiteboard Capital also chipped in, according to a statement.
Q2 2021 Hedge Fund Asset Flows (Preqin)
Hedge fund assets under management (AUM) hit a new milestone of $4.33tn in Q2 2021. This marks the asset class’s fourth quarter of inflows and represents the greatest positive flows for hedge funds since Q2 2015. In this factsheet, we present hedge fund asset flow data for Q2 2021, including breakdowns by strategy, region, past performance, and fund size.
French Systematic Equity Hedge Fund Quantology Slides into the Red (Hedge Week)
French systematic long/short equity hedge fund Quantology Capital Management’s flagship fund suffered its third consecutive down month in July. The Quantology Absolute Return strategy, a computer-based long/short market neutral equity fund which trades Nasdaq and NYSE-listed stocks, ended last month some 0.30 per cent in the red in its USD share class. The slide leaves the fund – which finished 2020 up 6.8 per cent annually – nursing a 1.5 per cent loss since the start of 2021.
