China’s Jurun Capital Beats League Tables Gorging on Cheap Junk Bonds (Reuters)
Wang Bo, chief of Shanghai-based hedge fund Jurun Capital, likes to buy cheap and keep a margin of safety in any investment. Wang’s strategy of buying some of the cheapest Chinese domestic junk bonds, a market few people dare to touch, has paid off handsomely, catapulting Jurun to the top of the debt fund league tables. The 2 billion yuan ($289.35 million) hedge fund founded in 2015 surprised investors with a 76% return last year, becoming one of the top two players among Chinese debt-focused private funds that manage more than 500 million yuan.
ARK’s Cathie Wood on Owning Nvidia, Tesla, AI Outlook (Bloomberg)
Cathie Wood, founder and chief executive officer of ARK Investment Management, talks extensively about how some of her funds still own Nvidia, how Tesla is the biggest AI play, and why she is so bullish on software stocks. She speaks with Bloomberg’s Shery Ahn and Rebecca Sin of Bloomberg Intelligence on “Bloomberg Daybreak: Asia.” (Source: Bloomberg)
Twilio Stock Climbs on Report of Activist Investor Pressure (Barron’s)
Twilio stock rose Wednesday following a report that said activist hedge fund Legion Partners has met with the software company several times and pushed for divestitures and board changes.
Five-Year Milestone for Nordea’s Alpha 7 (Hedge Nordic)
Stockholm (HedgeNordic) – The youngest and most conservative member of Nordea Asset Management’s Alpha family, Alpha 7 Multi Asset Fund, is celebrating its five-year anniversary at the end of May. The Alpha family, which oversees €9.6 billion as of the end of April, consists of three solutions that share a common approach of capturing risk-on and risk-off risk premia but exhibit different risk-return profiles.
Tuesday 5/30 Insider Buying Report: BXP, SVRA (Nasdaq.com)
At Boston Properties, a filing with the SEC revealed that on Friday, Director Carol B. Einiger bought 10,000 shares of BXP, at a cost of $47.41 each, for a total investment of $474,100. Einiger was up about 3.2% on the buy at the high point of today’s trading session, with BXP trading as high as $48.91 at last check today. Boston Properties is trading up about 2.2% on the day Tuesday. And also on Friday, Director David A. Ramsay purchased $258,529 worth of Savara, purchasing 100,000 shares at a cost of $2.59 a piece. Before this latest buy, Ramsay bought SVRA at 10 other times during the past twelve months, for a total investment of $784,054 at an average of $1.43 per share. Savara is trading off about 1.9% on the day Tuesday.
Barnwell Industries And 3 Other Stocks Under $3 Insiders Are Aggressively Buying (Benzinga)
Barnwell Industries: The Trade: Barnwell Industries, Inc. (BRN) 10% owner Ned L Sherwood Revocable Trust acquired a total 169,632 shares an average price of $2.64. To acquire these shares, it cost around $447.25 thousand. Bioventus: The Trade: Bioventus Inc. (BVS) Director William Hawkins acquired a total of 88,000 shares at an average price of $2.68. The insider spent around $235.57 thousand to buy those shares.
