HSBC to Distribute Hedge Funds to Clients in China (FundSelectorAsia.com)
HSBC China has announced that its local private banking clients can now invest in hedge funds through a new trust plan issued by China Resources SZITIC Trust Company. The underlying fund is managed by Pinpoint Private Fund Management, with which the bank has had more than 10 years of strategic collaboration. HSBC said it hopes to provide eligible investors with alternative investment options to achieve a more diversified asset allocation to tackle the impact of market volatility.
This Warren Buffett-Esque Fund Must be Bought Given its Huge and Unwarranted Discount (Telegraph.co.uk)
Our search for profitable ways to invest in American assets takes a doubly unusual turn today: the shares we have in mind not only trade in London but are those of an investment trust. We are tipping it because its valuation looks anomalous to say the least. It’s a fund we have shied away from in recent years after an unhappy entanglement in 2017 and 2018: Pershing Square Holdings fell heavily after our initial tip and we took an opportunity to exit when it had recovered almost all the lost ground. The shares have gone on to gain 129pc since then and that burst in the share price since our sale reflects the changes that have taken place at the trust.
Investors Grow Frustrated with Hedge Funds After Historic Losses (Money Control)
Industry is on track to post one of its worst years on record as long-short players struggle. Laurence Fletcher in London Hedge funds are heading for one of their worst years of performance on record, leaving investors frustrated with how many managers have failed to offset sharp falls in equity and bond markets. Funds were down 5.6 per cent on average in the first six months of 2022, according to HFR. While a narrower HFR daily index of performance shows them clawing back around 0.5 per cent last month, the industry is nevertheless on track for its second-worst…
Wednesday 8/3 Insider Buying Report: RILY, GWRS (Nasdaq.com)
On Tuesday, B. Riley Financial’s Director, Randall E. Paulson, made a $2.09M buy of RILY, purchasing 40,000 shares at a cost of $52.21 each. So far Paulson is in the green, up about 4.9% on their buy based on today’s trading high of $54.79. B. Riley Financial is trading up about 1.2% on the day Wednesday. Before this latest buy, Paulson purchased RILY at 6 other times during the past twelve months, for a total cost of $5.94M at an average of $55.23 per share. And on Monday, Director Andrew M. Cohn bought $1.5M worth of Global Water Resources, buying 111,000 shares at a cost of $13.50 a piece. Before this latest buy, Cohn bought GWRS at 10 other times during the past twelve months, for a total cost of $1.53M at an average of $16.10 per share.
Notable Chipotle Mexican Grill Insider Makes $5.04M Sale (Benzinga)
Curtis E Garner, and insider at Chipotle Mexican Grill (CMG), reported a large insider sell on August 1, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Monday showed that Garner sold 3,300 shares of Chipotle Mexican Grill. The total transaction amounted to $5,038,769. Chipotle Mexican Grill shares are trading down 0.28% at $1552.99 at the time of this writing on Tuesday morning.
