Cathie Wood’s New Venture Fund Offers Access to Hard-to-Trade Assets for Just $500 (Bloomberg)
Cathie Wood’s ARK Investment Management has launched a new fund that will target harder-to-trade assets while limiting how quickly investors can cash out. The firm on Tuesday announced that its long-awaited ARK Venture Fund is now available to all US investors via an investing app called Titan. The fund will invest in private and public companies focused on tech-powered innovation, as well as other venture capital funds.
Tory Donor Says Bets Against UK Government Bonds ‘Gifts That Keep Giving’ (The Guardian)
Multimillionaire and Tory donor Crispin Odey is among the hedge fund managers cashing in on the UK’s market meltdown, saying that his bets against Britain’s government bonds were “the gifts that keep on giving”. The investor – who is known for profiting from the Brexit referendum by making similar bets – said his position against the pound had “been helpful”, adding that sterling was unlikely to gain substantial ground against rival currencies such as the dollar.
David Einhorn Poked Fun at the $100 Million Deli He Brought to Light After 3 Men Involved were Charged with Fraud (Business Insider)
David Einhorn has poked fun at the $100 million deli he brought to light last year, after three men involved with the company were charged on Monday with alleged crimes including securities fraud and market manipulation. The billionaire investor and Greenlight Capital boss first highlighted Hometown International, the owner of a single New Jersey deli, in a letter to clients last April. He noted the company had generated less than $40,000 in sales over the past two years, yet it commanded a $114 million market capitalization.
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Sharp Rise in Climate Concern for Hedge Funds, Says LGT Capital Partners’ ESG Report 2022 (Hedge Week)
The last twelve months have seen a sharp rise in the proportion of private equity and hedge fund managers addressing climate change in their ESG policies, according to a new study by LGT Capital Partners. In its tenth annual ESG Report, LGT Capital Partners finds that almost half (47%) of private equity managers are now addressing climate change through their ESG policies, an increase of 13 percentage points over the last year. Significant progress has also been made with hedge fund managers with 64% of the managers assessed now rated ‘excellent’ or ‘good’ for their ESG practices, versus 25% last year. 2021 marked also something of a milestone for LGT Capital Partners’ own hedge fund offering, with the firm able to classify its flagship discretionary hedge fund offering as an Article 8 product under the SFDR.
Aurelius Capital’s Drawdown Funds Soar in 2022 (Institutional Investor)
A little-known distressed hedge fund firm has posted strong gains this year, in part thanks to sizable gains from Russian and Ukrainian paper. Aurelius Capital Management’s new drawdown funds – Aurelius Long-Term Opportunities Fund (International) and Aurelius Long-Term Opportunities Fund (U.S.) – which began investing at the beginning of 2022…
