Asset Manager Brevan Howard Reveals Details About Its Record-Setting $1B Crypto Hedge Fund (Coin Desk)
Last month, media reports suggested that global asset management giant Brevan Howard had raised more than $1 billion from institutional investors to create the largest crypto-focused hedge fund to date. Now the structure of that fund has come into further focus with a new filing with the U.S. Securities and Exchange Commission on Wednesday. Brevan Howard, which had $25 billion in total assets under management as of July, submitted a filing for the Digital Asset Multi-Strategy Fund Ltd hedge fund, which has raised $184.15 million since sales opened on April 1. The capital came from four investors, and there’s a $10 million minimum set for any outside investments. The firm indicated “Indefinite” for total offering amount, essentially the fund’s target size.
New Fidelity® Hedged Equity Fund Expands Fidelity’s Liquid Alts Lineup for Investors and Advisors (Businesswire)
BOSTON–(BUSINESS WIRE)–Fidelity Investments today announced the expansion of its alternative investments (alts) product lineup with the launch of Fidelity Hedged Equity Fund (FEQHX). The new fund seeks to construct an equity portfolio with similar risk-return characteristics to the S&P 500® Index, with downside protection in certain market conditions, that could serve as a core portfolio holding. Additionally, Fidelity Macro Opportunities Fund (FAQAX) and Fidelity Risk Parity Fund (FAPSX), which recently launched for financial advisors, are now available to retail investors. The three alts funds are available today for individual investors and advisors to purchase commission-free through Fidelity’s online brokerage platforms.
BlueBay Among Bears Unnerved by Latest Yen Slide (Reuters)
LONDON/NEW YORK Sept 8 (Reuters) – The precipitous slide in Japan’s currency has run so far and fast it’s spooking big investors, and some are cutting bets that it will decline further, anticipating policymakers may soon step in to try and arrest the freefall. Those who have sold the yen short have reaped juicy profits this year. It slumped to a 24-year low on Wednesday and has lost some 30% since the beginning of last year as U.S. interest rate expectations have gone up and Japanese rates have gone nowhere.
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Brummer & Partners Appoints New Partner (Hedge Nordic)
Stockholm (HedgeNordic) – Joakim Schaaf, Chief Compliance Officer at Brummer & Partners for more than 13 years, has now become a partner in the Swedish hedge fund group. “Brummer & Partners strengthens its partnership with the addition of Joakim Schaaf as partner,” says an announcement. Schaaf joined Brummer & Partners as Head of Legal and Compliance in mid-2009 from Finansinspektionen, Sweden’s financial supervisory authority. At Brummer & Partners, he has been working with regulatory compliance and has been focused on organizing the hedge fund group’s operations in alignment with Swedish and international regulations.
Man Group appoints Global Head of Capital Markets (Hedge Week)
Man Group has appointed Rob Leach as Global Head of Capital Markets and portfolio manager at Man GLG, a new role for the firm. Leach joins the firm from Jefferies where he was Head of EMEA Equity Capital Markets. Leach, who will be based in London, will focus on Man Group’s activity in capital markets offerings globally, with the aim of growing market share and client returns. He joins at a time when equity markets globally are experiencing significant challenges and require increasingly thoughtful navigation, and as Man Group is responding to client demand for active investment management solutions in both the long-only and alternative spaces. Leach has over 20 years of experience including previous roles at organisations including BlackRock, SAC Capital and UBS.
