Brevan Howard Said to Hire HSBC’s Global Co-Head of Flow Credit (Bloomberg)
Brevan Howard Asset Management is hiring Mitesh Gupta, HSBC Holdings Plc’s global co-head of flow credit, according to a person familiar with the matter. Gupta is set to depart HSBC this month, leaving co-head James Deighton in sole charge of flow credit at the lender. Gupta has been at the bank for the last 12 years having previously led its global emerging markets credit team.
Activist Land & Buildings to Seek Seat on American Campus Communities Board (Reuters)
BOSTON, Dec 13 (Reuters) – Activist investment firm Land & Buildings Investment Management is seeking a seat on the board of American Campus Communities (ACC.N) (ACC), according to people familiar with the matter, and believes the company needs to aggressively sell assets and buy back stock.
Huge Year for Tiger Global Alum (Institutional Investor)
SRS Investment Management is one of the top performing hedge funds in 2021. A little-known Tiger Grandcub who previously worked at Tiger Global Management is running one of the top performing hedge funds this year.And the firm can mostly thank one stock for its gains. SRS Investment Management is up 45 percent for the year after surging 11 percent in November, a month in…
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City Investment Giants Slam ‘Value Destructive’ Hedge Fund Elliott (The Times)
Top investors in energy behemoth SSE have lined up to attack Elliott, the powerful US hedge fund campaigning to force a break-up of the FTSE 100 firm. In what some will see as a turning of the City mood against the aggressive activist, they claimed it was pursuing quick returns at the expense of longer-term gains and accused it of “back of a fag packet” calculations.
Bill Ackman Slams US Government for Understating ‘Raging’ Inflation (NYPost.com)
Hedge-fund billionaire Bill Ackman slammed the US government for lowballing inflation, noting that its estimates have drastically understated the surging costs of housing nationwide. “Housing inflation is unlikely to abate based on supply and demand trends,” Ackman posted in a Friday evening tweetstorm. “The inflation that households are actually experiencing is raging and well in excess of reported gov’t statistics.”
Shepherd Turns the Power Off (Hedge Nordic)
Stockholm (HedgeNordic) – Shepherd Energy Portfolio, which employed trend-following and relative-value strategies in the Nordic power markets, has been closed down “due to insufficient liquidity and the ultra-high volatility in the gas and power market.” All positions in Shepherd Energy Portfolio had been unwinded by the end of October, with Stockholm-based Shepherd Energy AB ceasing to provide any portfolio management services as of the beginning of October.
US Hedge Funds Expect Strong Inflows Over the Next Two Years (Hedge Week)
The majority of US based hedge funds expect to see strong inflows over the next two years, according to a new study by quant technology provider SigTech. Some 86 per cent anticipate an increase in the level of investment into hedge funds, with 42 per cent predicting a dramatic rise. Between now and 2023, 92 per cent of US hedge funds surveyed, who collectively have USD74.76 billion in assets under management, also believe that the number of quantitative investment strategies launched will increase, with 34 per cent expecting a dramatic rise.
BFAM’s $4 Billion Hedge Fund Heads for Annual Loss on China Bets (Bloomberg)
BFAM Partners’ more than $4 billion hedge fund is heading for the first annual loss in its nine-year history, caught out by the sell-off in China real estate credit. The BFAM Asian Opportunities Fund has lost more than 10% in the first 11 months of the year, according to people with knowledge of its performance. It dropped about 7.5% in October and another 3.3% in November, they said, asking not to be identified because the information is private.
Friday 12/10 Insider Buying Report: AWRE, LILA (Nasdaq.com)
On Monday, Aware’s Director, John S. Stafford III, made a $212,286 purchase of AWRE, buying 70,016 shares at a cost of $3.03 a piece. So far Stafford III is in the green, up about 17.1% on their purchase based on today’s trading high of $3.55. Aware is trading up about 2.6% on the day Friday. This purchase marks the first one filed by Stafford III in the past twelve months. And at Liberty Latin America, there was insider buying on Wednesday, by Director Paul A. Gould who purchased 15,000 shares at a cost of $11.84 each, for a total investment of $177,610. Liberty Latin America is trading down about 0.3% on the day Friday. Investors can grab LILA at a price even lower than Gould did, with shares changing hands as low as $11.39 in trading on Friday which is 3.8% under Gould’s purchase price.
The Chairman of Sierra Metals (NYSEMKT: SMTS) is Buying Shares (Analyst Ratings)
Yesterday, the Chairman of Sierra Metals (SMTS), Jose Vizquerra-Benavides, bought shares of SMTS for $68.8K. This recent transaction increases Jose Vizquerra-Benavides’ holding in the company by 72% to a total of $124.4K. Currently, Sierra Metals has an average volume of 380.60K. The company has a one-year high of $3.92 and a one-year low of $1.28. Based on 4 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $2.46, reflecting a -44.7% downside.
