Cryptocurrency Hedge Fund Brevan Howard Tops $1 Billion in Assets (The Times Hub)
The BH Digital division, which is part of the Brevan Howard Asset Management structure of billionaire Alan Howard, has raised more than $1 billion for investments in cryptocurrencies. to informed sources. Brevan Howard Digital Asset Multi-Strategy Fund has lost between 4% and 5% since launching at the beginning of the year, they said. This looks “incredible” against the background of the market decline due to the collapse of Terra and the problems of a number of industry players such as Celsius Network and Voyager Digital. The structure uses algorithmic trading and relative value trades. Funds are distributed between venture investments and cryptocurrencies in the proportion of 10:90%.
Bridgewater Pushes Back Against Chinese ‘All Weather’ Copycats (Reuters)
SHANGHAI/NEW YORK, Aug 8 (Reuters) – Billionaire hedge fund manager Ray Dalio‘s huge popularity in China has not only drawn local investors flocking to his funds but also spawned home-grown challengers using his “All Weather” strategy and brand to try to beat him at his own game. Now, the Connecticut-based hedge fund giant he founded, Bridgewater Associates, is pushing back.
Saba Capital to Support Salient Midstream & MLP Fund’s Reorganisation (Opalesque)
Opalesque Industry Update – Saba Capital Management, L.P. and associated parties have reached an agreement regarding the Fund, a fund that invests in securities of MLPs and other midstream energy companies. Under the terms of the agreement, Saba has agreed to support the Fund’s reorganization into a lower-fee open-end mutual fund, Salient MLP & Energy Infrastructure Fund. In addition, the Fund’s investment advisor will make a payment of $300,000 to the Fund, to be paid out to all shareholders as a special “Saba Special Distribution”. “Saba is excited to have reached this agreement through constructive engagement with the Fund’s board and its advisor,” said Paul Kazarian, Partner and Portfolio Manager at Saba.
Photo by Austin Distel on Unsplash
Mark Cuban On SEC’s Crypto Fines: “They Litigate To Regulate” (Forbes)
Billionaire investor and early crypto adopter Mark Cuban has never been one to hide his disapproval of the SEC. He has publicly called the commission “worthless”, vlogged his frustration over phone calls with them, and most famously spent $12 million fighting a lawsuit accusing him of insider trading (the jury ruling in his favor).
Hedge Funds Post Best Gains in 15 Months But are Still Down in 2022 (The National News)
Global hedge funds recorded their best performance in 15 months in July despite a challenging global economic environment, but remained down in 2022, a report by Hedge Fund Research (HFR) has shown. The Chicago-based industry tracker’s fund weighted composite index recorded a 1.3 per cent gain last month. This was despite rising inflation, the US economy entering a recession and a strong reversal of US stock markets from their worst first half in more than 50 years, HFR said in its monthly update.
How a Single-Source Solution can Support the Middle East’s Asset Managers (Preqin)
The global financial services provider talks about how it’s developing a single-source solution and addressing distribution challenges in the Middle East, and the evolution of ESG trends in the market. How have changes in the investment landscape influenced the fund solutions GPs are asking for? The main changes are coming from international practice, regulations, technology, and funds’ aspirations to be more transparent and accessible to investors. Globally, for example, ESG standards have been established and rolled out to different jurisdictions. In the Middle East (ME), managers are becoming aware of this and looking to ‘future-proof’ themselves and stay ahead.
Equity-Linked Hedge Funds Drive Sector Higher In July (WealthBriefing.com)
Stock markets recovered in July, and funds employing an equities strategy typically fared better, driving the overall industry up. Macro funds, which profit from market swings caused by political and economic events, gave up some of their gains for 2022. Hedge funds gained in July as US equity markets posted a strong reversal after the worst first half of a calendar year in more than 50 years, figures show. Funds that are linked to equity markets fared much better in July than for much of the year; macro strategies that have profited for much of this year have pared some of their gains, according to Chicago-based Hedge Fund Research.
Monday 8/8 Insider Buying Report: TRU, ARCC (Nasdaq.com)
At TransUnion (TRU), a filing with the SEC revealed that on Thursday, CEO Christopher A. Cartwright bought 25,000 shares of TRU, at a cost of $79.42 each, for a total investment of $1.99M. Cartwright was up about 1.8% on the buy at the high point of today’s trading session, with TRU trading as high as $80.83 in trading on Monday. TransUnion is trading up about 2.6% on the day Monday. This purchase marks the first one filed by Cartwright in the past year. And at Ares Capital Corporation (ARCC), there was insider buying on Wednesday, by Chief Financial Officer Penelope F. Roll who bought 25,000 shares at a cost of $19.77 each, for a trade totaling $494,250. Ares Capital Corporation is trading up about 0.8% on the day Monday. So far Roll is in the green, up about 1.8% on their purchase based on today’s trading high of $20.13.
Apple, Twitter And 2 Other Big Stocks Insiders Are Selling (Benzinga)
Apple: The Trade: Apple Inc. (AAPL) SVP, GC and Secretary Katherine L Adams sold a total of 25,000 shares at an average price of $164.77. The insider received around $4.12 million from selling those shares. Twitter: The Trade: Twitter, Inc. (TWTR) General Manager of Consumer Kayvon Beykpour sold a total of 14,878 shares at an average price of $41.09. The insider received around $611.34 thousand as a result of the transaction. PayPal Holdings: The Trade: PayPal Holdings, Inc. (PYPL) EVP, Global Sales Peggy Alford sold a total of 21,791 shares at an average price of $97.82. The insider received around $2.13 million from selling those shares.
Biden’s Ongoing Struggle with the Utter Hypocrisy of Stock Trading in Congress (MSNBC)
Two days before the House was scheduled to vote on a bill concerning the domestic semiconductor chip manufacturing industry, Paul Pelosi, the husband of Speaker Nancy Pelosi, sold $5 million worth of stock in chipmaker Nvidia. Speaker Pelosi, D-Calif., denies having shared nonpublic information with her husband, but it doesn’t matter whether Paul Pelosi had inside information about the semiconductor bill or not. It looks awful.
