Hedge Fund Returns Improve in Q3, Led by Solid Gains for Macro Strategies (Hedge Week)
Hedge fund returns held up well in the face of ongoing downward trends for some markets in the third quarter, seeing only a small decline overall, with some specific strategies recording strong gains, according to data from Citco. Citco’s 2022 Q3 Hedge Fund Report reveals that the overall weighted average return from funds it administers was -0.63% in Q3, a significant improvement on the second quarter average return of -6.81%.
SCOR Expands Sustainable Investment Offering with New Fund (Reinsurancene.ws)
SCOR Investment Partners, a an investor focussed on increasing its sustainability linked platform, has announced the launch of SCOR Euro Loans Natural Capital. According to the announcement, this new corporate loan fund is open to institutional investors and has secured an initial commitment of €50 million from the SCOR Group as anchor investor. The fund is targeting a total €500 million in commitments.
Is Kohl’s Heading for Another Hedge Fund Battle? Analysts Weigh In. (BizJournals.com)
Kohl’s Corp. should consider “more radical actions” to achieve a competitive position, one analyst says. David Swartz, an equity analyst at Morningstar Research Services LLC, shared that view in a note following the merchant’s report this month on its third-quarter performance. Kohl’s said sales decreased 7.2% from last year, and earnings dropped 60%. While detailing its performance, the retailer’s leaders also said Kohl’s (NYSE: KSS) was done considering a potential “transformative” sale-leaseback transaction, a move for which vocal investors have advocated. Swartz said that news was likely to frustrate activist shareholders Macellum Capital Management and Ancora Holdings Group LLC, which both recently reupped their calls for change at the Menomonee Falls-based business.
Aristotle Capital Value Equity Fund’s Q3 2022 Investor Letter (Insider Monkey)
Aristotle Capital Management, LLC, an investment management company, released its “Value Equity Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund returned ‐5.17% net of fees and expenses, outperforming the Russell 1000 Value Index, which returned ‐5.62%. At the same time, the fund underperformed the S&P 500 Index, which returned ‐4.88%. The fund’s outperformance to the Russell 1000 Value Index in the quarter was attributed to stock selection. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Tuesday 11/22 Insider Buying Report: XAIR, LPLA (Nasdaq.com)
On Friday, Beyond Air’s Director, Robert Carey, made a $294,000 buy of XAIR, purchasing 50,000 shares at a cost of $5.88 each. Beyond Air is trading down about 0.4% on the day Tuesday. Before this latest buy, Carey purchased XAIR at 6 other times during the past twelve months, for a total investment of $720,322 at an average of $7.90 per share. And at Lpl Financial Holdings, there was insider buying on Friday, by EVP, CAO and Treasurer Brent Simonich who purchased 920 shares at a cost of $219.15 each, for a total investment of $201,618. This purchase marks the first one filed by Simonich in the past year. Lpl Financial Holdings is trading up about 4.6% on the day Tuesday. So far Simonich is in the green, up about 6.6% on their purchase based on today’s trading high of $233.53.
Ryan Specialty’s (NYSE:RYAN) CEO Is on a Buying Spree (TipRanks)
Yesterday, Patrick G. Ryan, chairman and CEO of Ryan Specialty (NYSE:RYAN) made his fifth informative buy transaction for the month of November. Ryan is also the founder and owner of more than 10% of the company’s shares. Ryan Specialty is an international specialty insurance firm that provides solutions to brokers, agents, and insurance carriers. The top executive has bought 285,058 shares of RYAN stock at a weighted average price of $38.77 per share. With the completion of the transaction, he now holds a total of 13.5 million shares of the company, for a total value of $503.9 million.
