Swedish Savers Embrace Hedge Funds (Hedge Nordic)
Stockholm (HedgeNordic) – Fund savers in Sweden channeled a net SEK 1.9 billion into hedge funds in October, according to Fondbolagens förening, the Swedish Investment Fund Association. The figure brings this year’s net inflows to hedge funds to an estimated SEK 9.2 billion, offsetting net outflows from equity, mixed and fixed-income funds. Although Fondbolagens förening collects data from a small subset of the Swedish hedge fund industry, the fund flow statistics could be indicative of increasing investor interest towards hedge funds in the Nordic region.
Goldman Sees Clients Coming Back in ‘Flight to Quality’ as Crisis Engulfs Crypto Firms (Financial News)
Goldman Sachs’ head of crypto trading says investors are “coming back” to the bank to carry out crypto trades after being spooked by crises at digital assets firms such as FTX. Andrei Kazantsev told Financial News that traditional hedge fund and asset manager clients had previously flirted with crypto firms, but are now reverting to institutions such as Goldman because of “counterparty risk” in the digital assets space. He said the process was a “flight to quality”.
Crypto Hedge Fund Galaxy Digital Reveals $76,800,000 Exposure to FTX Collapse (DailyHodl.com)
Crypto asset manager Galaxy Digital has revealed that it has tens of millions of dollars worth of exposure to embattled crypto exchange FTX. In a new quarterly financial update, Galaxy Digital says it has an exposure of about $76.8 million of cash and digital assets to FTX, $47.5 million of which it is currently attempting to withdraw.
Wednesday 11/9 Insider Buying Report: VRNS, CVNA (Nasdaq.com)
On Monday, Varonis System’s SVP of Worldwide Sales, James O’boyle, made a $1.00M buy of VRNS, purchasing 60,000 shares at a cost of $16.72 a piece. O’boyle was up about 10.4% on the buy at the high point of today’s trading session, with VRNS trading as high as $18.46 at last check today. Varonis System is trading off about 3.5% on the day Wednesday. And also on Monday, Director Michael E. Maroone bought $861,000 worth of Carvana, buying 100,000 shares at a cost of $8.61 a piece. Before this latest buy, Maroone made one other purchase in the past twelve months, buying $2.62M shares for a cost of $104.77 each. Carvana is trading up about 3.8% on the day Wednesday. Bargain hunters are able to snag CVNA at a price even lower than Maroone did, with shares trading as low as $7.26 at last check today which is 15.7% below Maroone’s purchase price.
30.71M Reasons To Be Bullish On Fulgent Genetics Stock (Benzinga)
Ming Hsieh, Chief Executive Officer at Fulgent Genetics (FLGT), reported a large insider buy on November 9, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Wednesday showed that Hsieh purchased 786,987 shares of Fulgent Genetics. The total transaction amounted to $30,705,084.
