Hedge Fund With 45% Returns Drawn Into DOJ Probe of Short Sales (Bloomberg)
Far off the hedge fund world’s usual map is a small firm in Toronto, filling out the second floor of a tidy brown office tower, just above a pizzeria. From that perch, Anson Funds and its 41-year-old leader, Moez Kassam, have been posting returns that are multiples the industry norm. It’s also punching above its weight in controversies. Reddit boards and websites have sprung up to question the propriety of how it bets on the ups and downs of stocks. So too have lawsuits.
Battered Russia Bonds a Risk Too Far, Says Distressed Debt Fund Gramercy (Reuters)
LONDON, March 25 (Reuters) – Distressed debt hedge fund Gramercy, which made a killing on Russian bonds after the 1998 crisis and has taken on Argentina and Venezuela over defaulted debt, says a bet on Russia now is too big a risk even with bonds trading at a tenth of face value. Robert Koenigsberger, whose first trade as founder of Gramercy in 1998 was scooping up battered Russian bonds, said Moscow had shown a surprising willingness to service external debts despite sanctions imposed over its actions in Ukraine.
MGIM Launches Multi-Asset Sustainable Fund (Investmentweek.co.uk)
Momentum Global Investment Management has added a new fund, the Harmony Portfolios Sustainable Growth fund, to its multi-asset fund range. The multi-manager fund will be SFDR Article 8 and will be run by Andrew Hardy and Lorenzo La Posta. MGIM said they will utilise a diversified blend of managers with “effective governance and superior management of environmental and social issues”.
Executives Buy Over $2.2M Of 3 Penny Stocks (Benzinga)
Team: The Trade: Team, Inc. (TISI) Director Evan S Lederman acquired a total of 13,500 shares at an average price of $1.62. To acquire these shares, it cost $21.85 thousand. Galecto: The Trade: Galecto, Inc. (GLTO) Chief Medical Officer Bertil Lindmark acquired a total of 14,604 shares at an average price of $2.16. The insider spent around $31.54 thousand to buy those shares.
Friday 3/25 Insider Buying Report: ITOS, PDO (Nasdaq.com)
On Wednesday, iTeos Therapeutics’ Director, Aaron I. Davis, made a $1.63M purchase of ITOS, buying 50,000 shares at a cost of $32.51 a piece. Davis was up about 3.6% on the purchase at the high point of today’s trading session, with ITOS trading as high as $33.69 at last check today. iTeos Therapeutics is trading up about 3.4% on the day Friday. This buy marks the first one filed by Davis in the past year. And at PIMCO Dynamic Income Opportunities Fund, there was insider buying on Wednesday, by Julie Ann Meggers who purchased 13,000 shares at a cost of $16.76 each, for a trade totaling $217,941. This buy marks the first one filed by Meggers in the past twelve months. PIMCO Dynamic Income Opportunities Fund is trading off about 0.2% on the day Friday. Investors are able to pick up PDO at a price even lower than Meggers did, with the stock trading as low as $16.32 in trading on Friday which is 2.7% under Meggers’s purchase price.
Sebi Penalises Three Individuals for Violations in Titan Share Trades (Live Mint)
Capital markets regulator Sebi has slapped monetary penalty on three individuals for violating insider trading norms in shares of Titan Company Ltd. Titan has written to Sebi about contravention of Sebi norms and company’s code of conduct for prevention of insider trading by some of its designated employees.
