US Decoupling From China Would Slow Innovation, Citadel Founder Says (Yicai Global)
(Yicai Global) March 25 — If the United States were to decouple from China, it would slow innovation, Ken Griffin, founder and chief executive of US financial firm Citadel LLC, said in a recent interview with Yicai Global. Citadel’ hedge funds have been among the world’s most profitable in the past 30 years and the firm’s market maker business has a one quarter share of the US market, while also operating in more than 35 countries and regions.
Sir Christopher Hohn Urges Shareholders to Vote Against Climate-Laggard Bank Directors (Business Green)
Billionaire hedge fund manager says banks committed to net zero while lobbying against climate regulations are guilty of ‘greenwashing’. Billionaire hedge fund manager Sir Christopher Hohn has called on shareholders to vote against directors of banks which fail to adequately measure and report on their exposure to climate risk, after new research today warned many of the world’s biggest financial institutions are continuing to fund the expansion of fossil fuel infrastructure.
Huntsman Corp Beats Starboard’s Board Challenge, Shares Tumble (Reuters)
BOSTON, March 25 (Reuters) – Hedge fund Starboard Value LP on Friday lost a fight to replace four directors at Huntsman Corp (HUN.N) but shares of the U.S. specialty chemicals company tumbled in early trading as investors learned about the result. Starboard, which owns 8.8% of Huntsman, argued that the chemicals manufacturer needs a shake-up to improve its financial performance. The hedge fund also said the company’s board was captive to CEO Peter Huntsman, whose father founded the company in 1982.
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Hedge Funds Choosing ‘Fresh’ Stocks Over Obvious Winners Drove Thursday’s Rally, Jim Cramer Says (CNBC)
CNBC’s Jim Cramer said that Thursday’s rally was driven by hedge fund managers’ desire for fresh stocks over trusted winners and that investors should not overthink the currently seesawing market. “Traders wanted something new — not Archer-Daniels-Midland or Exxon, but AMD and Estee Lauder,” the “Mad Money” host said. “The hedge funds are in charge here, which is how you get today’s rotating bullishness. Please, never try to overthink what happens in some of these rallies,” he added.
Senior Quantitative Researcher/Portfolio Manager (eFinancialCareers)
WizardQuant is a quantitative hedge fund that was established in early 2014 by Wall Street veterans. The company focuses on the multi-strategy, and high-capacity quantitative investment, including stocks, ETF, futures and options. WizardQuant organically integrates technology and finance, focusing on the cutting-edge quantitative research. Relying on a remarkably keen insight of the professional team, a strong research platform, and a top-notch information technology infrastructure, the company captures the most transient market volatility and builds best models to extract innermost market rules to achieve long-term stable absolute return.
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.
