Luxembourg Fund Managers and Current Geopolitical Landscape (Hedge Week)
2020 was a challenging year for the Luxembourg funds market. Despite a strong start in January and February, the Covid-19 pandemic caused a slowdown to fund set-up and net asset developments due to valuation issues and travel restrictions. However, it should be noted that the Luxembourg investment fund industry remained robust given the market regained growth starting mid-2020 and continuing into the third quarter of 2021. This positive development was driven predominantly by increasing net assets and incoming new commitments to the fund vehicles.
In Germany, A Hedge Fund Stands Up for Shareholder Rights (Bloomberg)
The shareholder activist’s art is to combine financial self-interest with the moral high ground. Take the recent attack by Davidson Kempner European Partners LLP on German landlord Deutsche Wohnen SE. This is surely an attempt to get better terms from Vonovia SE in its 19 billion-euro ($22 billion) bid for its peer. But the hedge fund is also defending an important point of principle.
Los Angeles Fire & Police Extends Semper Capital for a Year (Pensions & Investments)
Los Angeles Fire & Police Pensions board extended Semper Capital Management‘s mandate managing a $55 million structured credit portfolio by one year, said Ray Joseph, CIO of the $30.7 billion pension fund, in an email. The new contract will expire Sept. 30, 2022. The board at its Sept. 15 meeting agreed with the recommendation of general investment consultant RVK to renew Semper’s contract despite recent turnover on the team, including the departure of its hedge fund portfolio manager and a settlement with the SEC of charges that Semper had misled investors about the performance of a mortgage-backed securities fund.
US Hedge Fund Verition Planning Singapore Office, Eyeing HK: Source (The Business Times)
It is said to have hired an alumnus of Virtu Financial to be its first portfolio manager here Greenwich, Connecticut. VERITION Fund Management is the latest international multi-manager hedge fund to make a foray into Asia, eyeing the region’s fast-expanding capital markets and growing talent pool. The US$4.5 billion Greenwich, Connecticut-based firm is in the process of registering for a Singapore office with local authorities and is exploring a potential Hong Kong presence, said a person with knowledge of the matter, who asked not to be identified as the information is private.
Thursday 9/30 Insider Buying Report: SVRA, AXDX (Nasdaq.com)
At Savara, a filing with the SEC revealed that on Thursday, Director David A. Ramsay purchased 137,052 shares of SVRA, for a cost of $1.29 each, for a total investment of $176,382. Savara is trading up about 7.1% on the day Thursday. Before this latest buy, Ramsay bought SVRA at 2 other times during the past twelve months, for a total investment of $1.12M at an average of $1.42 per share. And on Monday, Director Hany Massarany bought $53,000 worth of Accelerate Diagnostics, buying 10,000 shares at a cost of $5.30 each. This buy marks the first one filed by Massarany in the past twelve months. Accelerate Diagnostics is trading off about 1% on the day Thursday. Massarany was up about 15.8% on the buy at the high point of today’s trading session, with AXDX trading as high as $6.14 in trading on Thursday.
What Did This CEO Just Do with Personal Shares of Tucows (NASDAQ: TCX)? (Analyst Ratings)
Today, the CEO of Tucows (TCX), Elliot Noss, sold shares of TCX for $774.6K. Following Elliot Noss’ last TCX Sell transaction on October 21, 2020, the stock climbed by 2.7%. This is Noss’ first Sell trade following 3 Buy transactions. The company has a one-year high of $94.20 and a one-year low of $68.44. TCX’s market cap is $842 million and the company has a P/E ratio of 120.60. In the last 30 days, insiders have sold $1.98M worth of TCX shares and purchased $1.46M worth of TCX shares. The insider sentiment on Tucows has been positive according to 83 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.
Notable Magnolia Oil & Gas Insider Trades $122M In Company Stock (Benzinga)
John B Walker, Director at Magnolia Oil & Gas (NYSE:MGY), made a large buy and sell of company shares on September 28, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission states that John B Walker exercised options to purchase 4,608,218 Magnolia Oil & Gas shares for $0 on September 28. They then sold their shares on the same day in the open market. They sold at a price of $16.38 to raise a total of $122,850,000 from the stock sale.
