ISS Recommends One of Sarissa’s Three Nominees for Alkermes Board (Reuters)
Proxy advisory firm Institutional Investor Services urged Alkermes (ALKS.O) shareholders to elect one of three director candidates proposed by activist hedge fund Sarissa Capital, arguing more outside pressure on management is needed right now. ISS said Sarah Schlesinger, a physician with experience serving on public company boards, should be elected to Alkermes’ 11-member board at next week’s annual meeting. She should replace board member Richard Gaynor, a physician who serves as president of BioNTech US, the report said.
This Is The Richest Person In Florida, New Analysis Says (Patch.com)
FLORIDA — Stock trader Ken Griffin has bragging rights as the richest person in Florida, according to a recent ranking from Forbes. Nearly all states have at least one billionaire, according to The Richest Person In Every State list put together by Forbes. The only ones that don’t are Alaska, Delaware and West Virginia. Griffin, founder of one of Wall Street’s largest hedge funds, has an estimated net worth of $33 billion as of June 20. Griffin, 54, lives in Miami.
Defence Firm Under Fire from Hedge Fund (InvestorsChronicle.co.uk)
Avon Protection (AVON) is facing a call to sell itself from a shareholder who said it was no longer fit to be a standalone business. Ancora Alternatives, a US-based hedge fund, said the company should begin “a full and fair strategic alternatives review to maximise value” and prevent further losses to shareholders. Ancora built a 5.1 per cent stake in Avon Protection in December last year, according to data provider FactSet. It said it had been engaged with the company’s board privately to discuss its underperformance but had decided to go public because of a “clear failure to address our concerns”.
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Make It Fit: Do Your Best Effort! (Hedge Nordic)
Stockholm (HedgeNordic) – The journey to achieving the Article 8 classification is hazy for any fund, even more so for hedge fund managers who deal with diverse asset classes, investment styles, and financial instruments, including short positions. Ann-Sofie Odenberg and Hampus Hårdeman from Brummer & Partners shed light on their multi-strategy fund’s journey towards obtaining Article 8 classification. Faced with varied challenges on their ESG journeys, every single manager under the Brummer & Partners umbrella has worked shoulder-to-shoulder with the group’s sustainability team to turn Brummer Multi-Strategy (BMS) into an Article 8 fund.
Crispin Odey Loses Approved Status on Rregulator’s Register (Funds-Europe.com)
Former hedge fund boss Crispin Odey has been removed from the Financial Conduct Authority’s (FCA) register of approved persons in the wake of the recent sexual harassment scandal that has engulfed him and the asset management firm he founded. Previously, Odey was listed on the FCA register as an approved person at Odey Asset Management, allowing him to directly interact with clients and perform other tasks. However, this approval was revoked on June 12, the register shows.
