Hedge Fund Millennium Tells Staff to Log Personal Crypto Trades with Compliance (Financial News)
Millennium Management sent a memo to staff telling them to disclose any personal trading in cryptocurrencies to the hedge fund giant’s compliance team. The hedge fund’s bosses sent the memo to employees in late September, according to two people with knowledge of the matter. While one of the people said they thought the memo was a new shift in policy, the other said the fund had required staff to disclose such holdings for the last three years and that the September note was intended as a reminder to employees to alert compliance teams to personal holdings in cryptocurrencies.
French Systematic Hedge Fund Quantology withstands September Equities Slide (Hedge Week)
French systematic long/short equity hedge fund Quantology Capital Management’s flagship fund ended last month in positive territory, with the market neutral strategy withstanding the sharp stock market reversal during September. The Quantology Absolute Return strategy, a long/short quant hedge fund which trades Nasdaq and NYSE-listed stocks, generated a 0.5 per cent gain over the course of September, outflanking the Nasdaq-100 Total Return Index, which dived some 5.7 per cent. Among the computer-based strategy’s best performing long bets were Australian software company Atlassian, and Datadog, the New York-based software-as-a-service data analytics platform provider. Solid gains were also provided by Grid Dynamics, an engineering IT services name, as well as west coast-based Beauty Health.
The QQM Acquisition is Approved (Hedge Nordic)
Stockholm (HedgeNordic) – Swedish fintech company Nowonomics has received approval from the Swedish Financial Supervisory Authority (Finansinspektionen) to acquire a 72 percent stake in hedge fund firm QQM Fund Management. The acquisition announced in late June enables NGM-listed Nowonomics to offer QQM’s systematic market-neutral fund, QQM Equity Hedge, on its money savings platform NOWO. “We are very happy that this important milestone has been reached and that we will thus be able to offer several exciting investment alternatives to our increasingly growing membership base.”
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Elliott Takes Stake in Healthcare Trust of America, Pushes Sale (Bloomberg)
(Bloomberg) — Activist investor Elliott Investment Management confirmed it has a “substantial investment” in Healthcare Trust of America Inc. and is pushing for the company to run a strategic review, including exploring a potential sale. The Florida-based hedge fund, run by billionaire Paul Singer, said in letter to HTA’s board that it believes the company is undervalued and that a sale to private equity, a nontraded REIT or a strategic buyer would be in its best interest. Shares of the real estate investment trust rose as much as 1.7% Monday on the news, which confirmed a report earlier this month by Bloomberg News.
RA Capital’s New VC Fund (Institutional Investor)
The life sciences specialist is the latest hedge fund firm to raise additional capital to invest in private companies. The most active life sciences hedge fund firm in the private markets has launched its third venture capital fund. RA Capital raised $880 million for RA Capital Nexus Fund III, which was “significantly oversubscribed,” according to a firm announcement.
Here’s How The Hedge Fund Industry Has Changed Over The Last 20 Years (Forbes)
It’s no secret that the hedge fund industry has changed over the last 20 years, but the changes have happened gradually. The most significant change is access to information, and there’s certainly no going back. But there is much more to the story. Dominique Mielle, author of Damsel in Distressed, the first hedge fund memoir from a woman, looked back on her time at Canyon Partners, which has made a name for itself in the world of distressed investing.
-Warren Buffett Expert Robert Hagstrom Breaks Down the 3 Key Elements of the Investor’s ‘Ultimate Money Mind’ — and Explains Why He won’t Rush to Make Another Elephant-Sized Acquisition (Business Insider)
Warren Buffett‘s phenomenal success is the product of his philosophical roots, sound methodology, and calm temperament, Robert Hagstrom told Insider in a recent interview. He also explained the lack of purchases during the pandemic by the famed investor and Berkshire Hathaway chief, and suggested Buffett won’t rush to pull the trigger on an elephant-sized acquisition. Hagstrom is the investment chief of EquityCompass and the author of multiple books about the Berkshire boss, including “The Warren Buffett Way” and “Warren Buffett: Inside the Ultimate Money Mind.”
Exclusive: Servify To Raise $100 Mn In Series D From New And Existing Investors (Inc42)
Mumbai-based Servify is in talks to raise $100 Mn in a Series D funding round, according to a source privy to the development. The round is expected to close in the next couple of weeks and will be led by existing and new investors. According to Inc42 sources, Servify’s existing investors Blume Ventures and Iron Pillar will be participating in this round of funding. The startup has held talks with several global investors including US major hedge fund Tiger Global, D1 Capital Partners, DST Global, General Atlantic, TSG, CVC Capital Partners, Lightspeed, and Goldman Sachs to lead the upcoming round, the source added.
Fantasy Fund Manager is Back – with 10 Chances to Win £15k in Prizes (The Telegraph)
Fantasy Fund Manager is back for its fifth season – with a twist. Players now have 10 chances to win as the prize pot in our stock-picking game has swelled to £15,000. The aim of the eight-week game is the same: to grow a virtual £100,000 portfolio as quickly as possible and rise up the leaderboard. Players who top the table will take home our cash prizes: £1,000 for the best-performing fund each week, £5,000 for the overall winner and, new for this season, £2,000 for the runner-up.
Monday 10/11 Insider Buying Report: KERN, LMNR (Nasdaq.com)
At Akerna, a filing with the SEC revealed that on Wednesday, Director Matthew Ryan Kane bought 128,160 shares of KERN, at a cost of $2.70 each, for a total investment of $346,032. Kane was up about 12.6% on the purchase at the high point of today’s trading session, with KERN trading as high as $3.04 at last check today. Akerna is trading up about 12.2% on the day Monday. And also on Wednesday, Director Jose De Jesus Loza purchased $156,500 worth of Limoneira, purchasing 10,000 shares at a cost of $15.65 each. Before this latest buy, Loza bought LMNR at 10 other times during the past twelve months, for a total cost of $1.60M at an average of $16.43 per share. Limoneira is trading up about 0.1% on the day Monday. So far Loza is in the green, up about 1.8% on their purchase based on today’s trading high of $15.93.
The Chairman of Alimentation Couche Tard (Other OTC: ANCUF) is Selling Shares (Analyst Ratings)
Today, the Chairman of Alimentation Couche Tard (ANCUF), Alain Bouchard, sold shares of ANCUF for $300M. Following Alain Bouchard’s last ANCUF Sell transaction on January 22, 2021, the stock climbed by 8.7%. In addition to Alain Bouchard, 4 other ANCUF executives reported Sell trades in the last month. Based on Alimentation Couche Tard’s latest earnings report for the quarter ending July 31, the company posted quarterly revenue of $13.58 billion and quarterly net profit of $764 million. In comparison, last year the company earned revenue of $9.71 billion and had a net profit of $777 million. The company has a one-year high of $42.97 and a one-year low of $28.55.
The Past Week’s Notable Insider Buys Included Asana, Designer Brands, Evergy And More (Benzinga)
CEO Dustin Moskovitz of Asana Inc (ASAN) returned to the buy window last week to acquire more than 253,800 additional shares of this San Francisco-based tech company. At share prices ranging from $98.67 to $100.00, that cost him over $25.38 million. Moskovitz bought 250,000 shares in the prior week and more than 760,000 in September. The stock ended last week trading at $105.45 a share, more than 5% above the top of the latest purchase price range. Sensient Technologies Corporation (SXT) saw a beneficial owner continue a buying streak stretching back to late August. The more than 61,700 shares picked up most recently added up to more than $5.7 million, at per-share prices of $91.04 to $94.46. The owner’s stake in the food and cosmetics ingredient maker is up to more than 5 million shares, which compares to around 42 million shares outstanding. The stock was last seen trading at $89.16 per share.
