Neil Woodford Gives Up on UK Investment Fund Comeback (ProactiveInvestors.co.uk)
Fallen-star fund manager Neil Woodford has seemingly given up his attempt to return to the UK fund management market. An application has been made for his new WCM Partners business to be removed from the Companies House register. According to the company’s accounts, the business had current assets of £1.3mln split between debtors and cash at the end of last year.
Major Spirit Shareholder Backs Merger with JetBlue (AeroTime Hub)
A major Spirit Airlines (S64) (SAVE) shareholder, the American hedge fund Discovery Capital Management, has urged the carrier’s Board of Directors to reject its possible merger with Frontier Airlines, arguing that the deal with JetBlue (JBLU) is “more favorable”. In an official letter sent to Spirit Airlines (S64) (SAVE) on July 12, 2022, Discovery Capital, which owns 1.4% of Spirit, implored the American low-cost carrier to abandon its merger with Frontier and to create the US’s fifth-largest air carrier by joining forces with JetBlue (JBLU). “We are writing you today as we are concerned about the upcoming vote on July 15th for the proposed merger with Frontier Airlines.
Schonfeld Asia Hedge Fund Spin-Off Raises More Than US$750m: Source (Business Times)
A HEDGE fund spin-off from Schonfeld Strategic Advisors that focuses on Greater China stocks has raised more than US$750 million within a few months, a rare feat in a year when slumping returns have deterred investors. Keystone Investors began trading on Apr 1 with backing from Schonfeld, while the majority of money was raised from other investors, the new venture’s chief executive officer Ken Tonkinson said. The fund is closed to new capital to manage asset size and plans to reopen in the fourth quarter, he said.
Photo by Austin Distel on Unsplash
Viking Hedge Fund’s 7% Loss in First Half Still Beats Its Tiger Cub Peers (Bloomberg)
Viking Global Investors’ move to reduce risk, concentrate long wagers and hold onto its short bets helped the hedge fund limit losses in the first half of 2022 and outperform several stock-picking peers. Andreas Halvorsen’s $19 billion flagship fund gained 2% last month, paring its decline for the year to 7.4%, according to an investor letter seen by Bloomberg. While the fund is on track to post the worst annual loss in its 22-year history, that performance is far better than other so-called Tiger Cubs, some of which tumbled 30% or more this year.
Stocks are More Attractive than Bonds ‘Any Day of the Week’ as Yields are Still Too Low, Leon Cooperman Says (Business Insider)
Stocks are more attractive than bonds as yields remain too low, billionaire investor hedge fund manager Leon Cooperman said. With consumer price inflation at 8.6% and 10-year Treasury yields below 3%, bonds have no real return, making stocks comparatively better, he told Bloomberg TV on Monday. “I’d rather be in a common stock than I would be in a bond any day of the week, given the relative price of bonds versus equities,” Cooperman said.
