Top-10 Unilever Investor Backs Peltz to Bring Urgency (Reuters)
FRANKFURT, June 2 (Reuters) – Germany’s Flossbach von Storch, a top-10 shareholder in Unilever, is backing Nelson Peltz to bring urgency to the consumer goods giant, but doesn’t expect major structural changes, it said on Thursday. Billionaire activist investor Peltz will join Unilever’s board in July, the company said on Tuesday, heaping pressure on the maker of Dove soap and Hellmann’s mayonnaise as it reviews its strategy.
Formue Nord Bolsters Team (Hedge Nordic)
Stockholm (HedgeNordic) – Aalborg-based Formue Nord has bolstered its team with the hiring of Søren Skinbjerg as Client Portfolio Manager. The boutique asset manager, which runs two market-neutral funds offering financing solutions to listed companies, has rapidly grown to encompass a team of eight employees from a founding team of two. “Søren Skinbjerg has today started at Formue Nord as Client Portfolio Manager, and we are super happy to have him on the team,” writes Formue Nord on LinkedIn. “Søren’s primary focus at Formue Nord will be on customers and business development, where he will contribute to strengthening our efforts and work focused on client relations,” according to the LinkedIn post. “Søren is already well underway to getting accustomed to our business.”
SureFire Capital’s Multi-Strategy Hedge Fund Achieves +22.1% in April 2022, Outperforming the S&P 500 and Nasdaq-100 Indices (Benzinga)
SureFire Capital, a family office specializing in alternative investments and founded by CEO Ariel Shlien, announced the most recent performance for SureFire Multi-Strat, LP, which achieved +22.1% in April 2022 and an estimated +10% in May 2022 amid challenging market conditions. The underlying quantitative hedge fund strategy, focused on the Nasdaq-100 Index, incorporates trend, momentum, and volatility factors.
A Web of Deceit? State Pension Funds and Non-Profit Foundations Investing in Activist Hedge Funds (SFWeekly.com)
The aims of activist hedge funds may seem harmless, even virtuous. But who are they really benefiting? Growing evidence suggests that the only true winners are the billionaires who run these funds. So why are public pension funds – some supported by taxpayer dollars – investing in these instruments of economic destruction? Research indicates that state pension funds have invested in activist hedge funds. Public records show that New Jersey’s pension fund has investments in the activist funds Starboard Value and Jana Partners. Florida’s pension fund also has invested in Starboard Value.
Head of George Soros’ Family Office Predicts Ethereum (ETH) Will Gain Traction Over Bitcoin (BTC): Report (The Daily Hodl)
The CEO of an investment management firm founded by George Soros says cryptos have passed the test when it comes to appealing to traditional investors. In an interview with Bloomberg Wealth, Dawn Fitzpatrick of Soros Fund Management (SFM) tells host David Rubenstein that among the top two crypto assets, she believes Ethereum (ETH) will grab more market share from Bitcoin (BTC) due to environmental concerns.
Thursday 6/2 Insider Buying Report: SCOR, RYN (Nasdaq.com)
On Wednesday, comScore’s William Paul Livek, made a $1.15M buy of SCOR, purchasing 600,000 shares at a cost of $1.92 a piece. Livek was up about 18.4% on the buy at the high point of today’s trading session, with SCOR trading as high as $2.27 at last check today. comScore is trading up about 16.3% on the day Thursday. Before this latest buy, Livek bought SCOR on 4 other occasions during the past year, for a total cost of $321,182 at an average of $3.76 per share. And on Tuesday, Director Meridee Moore bought $495,149 worth of Rayonier, buying 12,000 shares at a cost of $41.26 each. Rayonier is trading down about 0.5% on the day Thursday.
Prosecutors Charge a Crypto Employee with Insider Trading. (The New York Times)
Manhattan prosecutors on Wednesday accused a former employee of OpenSea, an auction site for the digital goods known as nonfungible tokens, or NFTs, of insider trading. It is believed to be the first such case filed related to a cryptocurrency company. Nathaniel Chastain, a 31-year-old former product manager at OpenSea, is accused of using his knowledge of which NFTs would be featured on the site’s home page to secretly purchase from those collections in advance, and then profit when auctions increased their value, according to a report in the DealBook newsletter this morning.
Insiders Buy More Than $41M Of 2 Penny Stocks (Benzinga)
Evelo Biosciences: The Trade: Evelo Biosciences, Inc. (EVLO) 10% owner Noubar Afeyan acquired a total of 27,397,259 shares at an average price of $1.46. To acquire these shares, it cost $40 million. comScore: The Trade: comScore, Inc. (SCOR) Director Paul William Livek acquired a total of 600,000 shares at an average price of $1.92. The insider spent around $1.15 million to buy those shares.
