CoinShares International Bought the Fund from Alan Howard’s Elwood as Part of its Agreement to Buy Elwood’s Indexing Business. (Investment News)
Hedge fund titan Alan Howard’s crypto markets business Elwood has sold its economic interest in a blockchain fund with more than $1 billion of assets to CoinShares International Ltd. The deal is part of CoinShares’ agreement to buy Elwood’s indexing business for $17 million, CoinShares said in a statement Tuesday. The operation of the unit’s blockchain exchange-traded fund, which Elwood launched with Invesco Ltd., won’t be impacted by the sale. Howard is the majority owner of Elwood. For Elwood, the deal marks a transition away from asset management to focus on its tech platform, which enables institutions such as banks, fintechs, and asset managers to access and trade crypto assets across exchanges and market makers.
Hedge Fund Trader Charged in Alleged Lucrative Front-Running Scheme (HedgeCo.net)
(HedgeCo.Net) The Securities and Exchange Commission has filed fraud charges against Sean Wygovsky, a trader at a major Canada-based asset management firm, in connection with a long-running and lucrative front-running scheme that Wygovsky perpetrated in the accounts of his close family members, netting more than $3.6 million in illicit gains. According to the SEC’s complaint, from approximately January 2015 through at least April 2021, Wygovsky repeatedly traded in his family members’ accounts held at brokerage firms in the United States ahead of large trades that were executed on the same days in the accounts of his employer’s advisory clients.
Growing Out of a One-Man Shop (Hedge Nordic)
Stockholm (HedgeNordic) – Almost a year after one-man shop Symmetry Invest hired a second portfolio manager, the Aalborg-based asset manager has expanded further with the hiring of Casper Munksø Thomsen as a chief financial officer. Thomsen joined Andreas Aaen’s Symmetry Invest in mid-June this summer after spending eight years at Danish advisory and accounting firm BDO Denmark.
The Deputy Chief Executive Officer of OTP Bank Nyrt (Other OTC: OTPBF) is Buying Shares (Analyst Ratings)
Today, the Deputy Chief Executive Officer of OTP Bank Nyrt (OTPBF), Antal Kovacs, bought shares of OTPBF for $99.99M. Following Antal Kovacs’ last OTPBF Buy transaction on June 10, 2021, the stock climbed by 23.6%. This recent transaction increases Antal Kovacs’ holding in the company by 7% to a total of $5.24 million.
SEC Charges Two Indian Americans Among Six Others With Insider Trading (The Quint)
The United States Security and Exchange Commission (SEC) has charged six persons from Silicon Valley, two of whom are Indian Americans, with insider trading. The SEC has had brought up both civil and criminal charges against Naveen Sood, Naresh Ramaiya and four others alleging their involvement in sharing unlawful tips and trading of insider information about stocks of two tech companies – Infinera and Fortinet.
