Hedge Fund Performance Monitor: January 2021 (Preqin.com)
The Preqin All-Strategies Hedge Fund benchmark returned +2.14% in January, a positive start to 2021 which built on December’s solid return (+4.08%). This is in spite of significant movements in stock prices caused by retail investors, fiscal stimuli, rising Treasury yields, and unemployment across the globe. Read our Performance Monitor for a look at how equity, credit, and macro strategies performed in January. The Monitor presents hedge fund performance benchmarks, plus the YTD and 12-month return figures for all top-level strategies, structures, denominations, and size classifications.
Alibaba, Once a Hedge Fund Darling, Dumped By Point72, Hillhouse (Bloomberg)
Alibaba Group Holding Ltd, once the most valuable company in China, is turning from a global hedge fund favorite to something less than desirable. Investors from hedge fund titans such as Point72 Asset Management and Moore Capital Management to Canadian and U.S. pension funds dumped 101 million of Alibaba’s American depositary receipts in the fourth quarter, cutting the market value of their holdings by $89 billion, according to filing data. It was the biggest investment reduction among U.S. traded companies, more than three times the second-most sold stock, Salesforce.com Inc.
Barclays Investor Poll Predicts Rush of New Capital in “Breakout Year” for Hedge Funds (Hedge Week)
Hedge funds could be set for a rush of new capital pouring into the industry this year – potentially reaching up to USD30 billion – as investor appetite grows following strong 2020 performances, Barclays said on Wednesday. The bank’s ‘2021 Global Hedge Fund Industry Outlook and Trends’ report found that allocator sentiment towards hedge funds is the strongest it’s been since 2014, with 41 per cent of all investors planning to increase their hedge fund exposure this year.
Wednesday 2/24 Insider Buying Report: APLT, UVSP (Nasdaq.com)
At Applied Therapeutics, a filing with the SEC revealed that on Friday, Director Stacy J. Kanter purchased 6,500 shares of APLT, for a cost of $22.86 each, for a total investment of $148,590. Kanter was up about 7.0% on the buy at the high point of today’s trading session, with APLT trading as high as $24.46 in trading on Wednesday. Applied Therapeutics is trading up about 9.1% on the day Wednesday. And on Monday, Director Joseph P. Beebe purchased $99,104 worth of Univest Financial, purchasing 4,000 shares at a cost of $24.78 each. Univest Financial is trading up about 1.3% on the day Wednesday. So far Beebe is in the green, up about 5.4% on their purchase based on today’s trading high of $26.11.
The Chief Administration Officer of Corvus Gold (NASDAQ: KOR) is Selling Shares (Analyst Ratings)
Yesterday, the Chief Administration Officer of Corvus Gold (KOR), Carl Brechtel, sold shares of KOR for $146.2K. KOR’s market cap is $275 million and the company has a P/E ratio of -16.60. The company has a one-year high of $3.29 and a one-year low of $0.72. The Company has a Price to Book ratio of 29.83. The insider sentiment on Corvus Gold has been neutral according to 28 insider trades in the past three months. This sentiment is slightly lower than the average sentiment of company insiders in this sector.
Charles River Laboratories International Inc (CRL) Chairman, President and CEO James C Foster Sold $10.6 million of Shares (Guru Focus)
Chairman, President and CEO of Charles River Laboratories International Inc, James C Foster, sold 37,731 shares of CRL on 02/23/2021 at an average price of $281.27 a share. The total sale was $10.6 million. Charles River Laboratories International Inc is a pharmaceutical company providing drug discovery and development services.
