Andurand Sees Record Carbon Heading Even Higher on EU Reforms (Bloomberg)
Andurand Capital Management, a hedge fund mostly known for its big bets on oil prices, expects the cost of polluting to surge even more in Europe as the region unveils key reforms to its emissions market to meet stricter climate goals. Next month’s proposed overhaul of the world’s biggest carbon market will help speed up the European Union’s transition to a sustainable economy and could lure more institutional investors, according to Mark Lewis, Andurand’s new head of climate research.
Hedge Fund Not Sure Hedge Funds Worth Hedge Fund Fees (Deal Breaker)
A hedge fund helmed by a veteran of one of the world’s most successful hedge funds which took a bath on its GameStop short is closing. No, not that one. White Square Capital, run by former Paulson & Co trader Florian Kronawitter, told investors that it would shut its main fund and return capital this month after a review of its business…. White Square, which at its peak managed about $440m in assets, had bet against GameStop, say people familiar with its positioning, and suffered double-digit per cent losses in January.
Hedge Funds Perform In Line With The Broader Market For May (Forbes)
The Eurekahedge Hedge Fund Index gained 0.87% in May, roughly in line with the return in the broader equity market as measured by the MSCI ACWI (local)’s 0.83% return. On a year-to-date basis, hedge funds were up 7.71%, the highest May year-to-date return since 2009, despite the pandemic.
Magma Capital Funds lunches the Obsidian Fund (Opalesque)
Magma Capital Funds, a quantitative investment manager that leverages volatility-based, multi-asset strategies, announced the launch of the Obsidian Fund, a new investment product that will provide current and former professional athletes access to an actively managed, artificial-intelligence driven fund model. According to a press release from the Chicago-based firm, Obsidian – constructed as a sister fund to Magma’s Total Return Fund – is designed for all market environments, to provide consistent returns no matter the direction of the market.
The Chairman of Vizsla Resources (Other OTC: VIZSF) is Buying Shares (Analyst Ratings)
Today, the Chairman of Vizsla Resources (VIZSF), Craig Andrew Parry, bought shares of VIZSF for $4.15M. This recent transaction increases Craig Andrew Parry’s holding in the company by 23% to a total of $18.13 million. This is Parry’s first transaction since reporting a Buy transaction on TSE:SURG back in November 2020. The company has a one-year high of $2.37 and a one-year low of $0.32.
A Swiss Court has Found a Well-Known Turnaround Manager Guilty of Insider Dealings, the First Case Involving Someone that Prominent in a Country Which has So Far Tiptoed Around Enforcing Insider Trading Laws. (FinNews.com)
A Swiss criminal court found Hans Ziegler guilty of several counts of insider trading, industrial espionage, and breaching confidential company information, according to Swiss newswire «AWP» (in German). Ziegler was given to a two-year suspended sentence, a fine of 10,000 Swiss francs ($10,900), and ordered to pay restitution of 770,000 francs. Ziegler, one of Switzerland’s most respected and best-known turnaround experts, went on to a boardroom career including stints at apparel maker Charles Voegele and steel products maker Schmolz+Bickenbach. His prosecution is emblematic of far stricter enforcement of Swiss insider trading rules, which were buttressed more than ten years ago.
Crispr Therapeutics Ag (CRSP) CEO Samarth Kulkarni Sold $3.8 million of Shares (Guru Focus)
CEO of Crispr Therapeutics AG, Samarth Kulkarni, sold 30,000 shares of CRSP on 06/15/2021 at an average price of $126.43 a share. The total sale was $3.8 million.
