Hedge Funds Told They Can Ignore ‘Onerous’ ESG Investing Rule (Bloomberg Law)
Hedge fund managers eager to attract ESG client cash have won a concession that will make it easier for them to generate fees in the $40 trillion market for environmental, social and governance assets. In response to calls for clarification of a key plank of European ESG rules, the EU Commission has said that smaller investment firms (defined as those with no more than 500 employees) are free to claim they’ve measured the so-called Principal Adverse Impact (PAI) of an individual fund product, without needing to quantify the entire firm’s impact.
Tuesday 7/5 Insider Buying Report: Nike (Nasdaq.com)
On Thursday, Director John W. Rogers Jr. purchased $1.03M worth of Nike, purchasing 10,000 shares at a cost of $102.96 a piece. Nike is trading up about 0.7% on the day Tuesday. Investors have the opportunity to snag NKE even cheaper than Rogers Jr. did, with shares trading as low as $100.11 in trading on Tuesday which is 2.8% under Rogers Jr.’s purchase price.
More Than $582 Million Bet On This Stock? 3 Stocks Insiders are Buying (Benzinga)
Occidental Petroleum: The Trade: Occidental Petroleum Corporation (OXY) 10% owner Warren E Buffett acquired a total of 9,887,040 shares at an average price of $58.91. To acquire these shares, it cost around $582.45 million.
The Best and Worst Performing Funds of the Year So Far: Just 6% have Made a Profit Since January as Inflation, Rate Rises and War Rock Markets (This is Money)
An overwhelming majority of investment funds have posted losses since the start of the year with high-growth tech leading the charge downhill. Just 6 per cent of funds in the Investment Association universe posted positive returns in the first half of the year, according to research by Quilter Cheviot. Headwinds, ranging from sky-high inflation, to rapidly rising interest rates and Russia’s Ukraine invasion have sent markets into a tailspin.
Banor Capital Renames L/S UCITS Fund to Reflect New Adviser and Strategic Shift Towards Energy Transition (PrivateEquityWire.co.uk)
Banor Capital, the €1.7 billion London-based investment management firm, has renamed the Banor SICAV North America Long Short Equity Fund to reflect the fund’s increasing focus on companies active in the field of energy transition, with a particular emphasis on the battery value chain. It is now named the Banor SICAV Volta Long Short Equity Fund. The move came in response to increasing demand from institutional investors for exposure to the energy transition theme, and Banor Capital selected Westbeck Capital LLP to take over as adviser to the fund.
Macro Hedge Funds Shine Amid Market Gloom; Launches Rise – HFR (Wealth Briefing Asia)
Hedge funds don’t always live up to their name in shielding investors from the vagaries of markets, but macro strategies appear to be on a winning streak – very appealing in current market conditions. New hedge fund launches jumped to the highest level in the first three months of 2021 and reached the second highest quarter since the fourth quarter of 2017. The desire to start more funds has been partly driven by strong gains from macro-focused funds, which made ground while markets fell, figures show.
