Woodford Investors To Get up to £235 Million in Compensation (Bloomberg)
Investors trapped in Neil Woodford’s failed equity fund are set to get up to £235 million ($292 million) in compensation after a regulatory probe found its administrator mismanaged liquidity in the fund. The redress will cover some of the losses to over 300,000 investors stuck in the disgraced stock picker’s LF Woodford Equity Income Fund, the Financial Conduct Authority said in a statement Wednesday. Link Fund Solutions, which was the fund administrator, will pay the sum with help from its parent company Link Group.
Hedge Fund BFAM, DK, Others File Lawsuit Against Chinese Developer for Debt Repayment (Reuters)
Hedge fund BFAM Partners and a few other investors have filed a lawsuit in New York against Chinese property developer Glory Health, seeking $201 million in debt repayment, according to a court filing seen by Reuters. Hong Kong-based BFAM and an investment vehicle of U.S. hedge fund manager Davidson Kempner, known as DK, together with some other investors outside of China were collectively owed $141.4 million in principal, $9.4 million in premiums, and $50.4 million in interest, according to the filing dated April 14.
Hedge Fund Boss Says Newcrest, Teck Resources Bids could be Improved (AFR.com)
Hedge fund boss Rafi Lamm said he wouldn’t be surprised if other bidders emerged to buy gold and copper play Newcrest Mining after Canada’s Newmont Mining lobbed an improved $29.4 billion takeover offer last week. Mr Lamm’s L1 Capital Long Short Fund has returned 42.3 per cent per year over the past three years, beating its benchmark S&P/ASX 200 Accumulation Index by 16.5 per cent as of March 31.
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Cathie Wood’s Been Busy Adding to ARK Invest’s Holdings, Buying Tesla, Coinbase and More (Nasdaq.com)
Cathie Wood’s ARK Investment Management filed its latest 13F with the SEC this week, reporting fund movements for the March quarter. ARK Invest is a boutique investment firm that focuses on investing in disruptive technologies and innovative companies. The investment strategy was sound in an environment of falling cash rates and expanding valuations following on from the 2008 global financial crisis that rewarded her investors with consistent market outperformance.
The 3 Most Influential Hedge Fund Managers You Need to Follow (InvestorPlace)
Investors should pay attention to these hedge fund managers. Here are three of the most influential hedge fund managers you need to follow. Ray Dalio: He grew Bridgewater Associates into the world’s biggest hedge fund with more than $125 billion of assets. Michael Burry: This mercurial hedge fund manager called the 2008 financial crisis and many other calamities. Warren Buffett: The most successful investor of all time manages a portfolio valued at nearly $350 billion.
Saudi Arabia Wealth Fund Reveals Investments in Founders Fund, Tiger Global (Bloomberg)
Saudi Arabia’s portfolio of venture investments includes Tiger Global Management and Peter Thiel’s Founders Fund, recent updates to its website show. The firms are among the roughly 50 venture capital and growth funds that Saudi Arabia’s Sanabil Investments, the venture arm of its $620 billion Public Investment Fund, has begun publishing online. It’s rare for limited partners — the investors in VC funds — to make their positions public.
Bull Asset and Silver Leaf Cash in on China Property Bond Trades (Hedge Week)
China-based hedge funds Shanghai Bull Asset Management (Bull Asset) and Shanghai Silver Leaf Investment Co (Silver Leaf) have both booked big returns by exiting a lucrative trade son the country’s property bonds, according to a report by Bloomberg. Both firms have decided to unwind their wagers on concerns over the sector’s debt burden. Bull Asset has reportedly sold all its CIFI Holdings Group Co bonds after cut-price purchases of the troubled assets helped spur a 523% increase in its distressed-debt strategy in 2022.
Sotheby’s to Host Auction of NFTs from Failed Hedge Fund 3AC Collection (CoinSpeaker)
The total value of NFTs held by Three Arrows Capital (3AC) is $2.4 million. The Grails NFT collection includes NFTs from some popular Web3 projects as well as from some of the most notable artists. On Wednesday, April 19, the popular London-based auction house Sotheby’s announced that it will facilitate the sale of the “Grails” NFT collection, originally owned by the now-defunct hedge fund Three Arrows Capital (3AC) as well as its NFT-collecting fund Starry Night Capital.
Thursday 4/20 Insider Buying Report: REVB, NTIC (Nasdaq.com)
On Tuesday, Revelation Biosciences’ Director, George F. Tidmarsh, made a $59,740 purchase of REVB, buying 51,500 shares at a cost of $1.16 a piece. Investors have the opportunity to grab REVB even cheaper than Tidmarsh did, with shares trading as low as $1.09 at last check today which is 5.9% below Tidmarsh’s purchase price. Revelation Biosciences is trading up about 2.8% on the day Thursday. And also on Tuesday, Director Sarah E. Kemp purchased $30,000 worth of Northern Technologies International, purchasing 2,473 shares at a cost of $12.13 each. This buy marks the first one filed by Kemp in the past year. Northern Technologies International is trading off about 1.5% on the day Thursday.
Over $25M Bet On This Biotechnology Stock? Check Out These 3 Stocks Insiders Are Buying (Benzinga)
Ambrx Biopharma: The Trade: Ambrx Biopharma Inc. (AMAM) 10% owner Cormorant Private Healthcare Fund III LP acquired a total of 2,597,896 shares an average price of $9.75. To acquire these shares, it cost around $25.32 million. Alta Equipment Group: The Trade: Alta Equipment Group Inc. (ALTG) 10% owner Bryant Riley acquired a total of 84,000 shares at an average price of $13.76. To acquire these shares, it cost around $1.16 million.
