UBS Sees Notable Rise in Hedge Fund Allocations Among Family Offices in 2022 (Opalesque)
According to Swiss bank UBS’ 2023 Global Family Office Report, allocations to hedge funds have increased in line with a greater emphasis on active management, and family offices are planning to further diversify their private market allocations. Within family offices’ allocation refocus, there was a notable rise in hedge fund allocations, from 4% in 2021 to 7% in 2022 globally. The breakdown is 10% in the US, 7% in Latin America, 4% in Switzerland, 8% in Europe and 11% in Asia-Pacific. Half of all the family offices surveyed invested in hedge funds in 2022, up from 43% the year before.
Hedge Fund Veteran Deepak Narula Says Agency MBS Offer Rare Opportunities Now (Bloomberg)
Deepak Narula says wide spreads in the agency mortgage-backed security market offer opportunities approaching those that surfaced in the wake of the global financial crisis. The founder and chief investment officer of Metacapital Management LP should know. Born in New Delhi, Narula earned a Ph.D. in management science at Columbia Business School before joining Lehman Brothers Holdings Inc. as a research analyst in 1989. There, he rose to become head of mortgage strategy, then to lead Lehman’s agency MBS and derivatives trading desks.
AQR Founder Backs New Niche Hedge Fund (Hedge Week)
Cliff Asness, the founder of quantitative investment firm AQR Capital, is backing a new ‘niche’ multistrategy hedge fund launched by former employee Brian Hurst and Goldman Sachs Group alumnus Elisha Wiesel, according to a report by Bloomberg. Hurst who spent 21 years with AQR, and Wiesel, a 25-year Goldman Sachs veteran, began trading with Niche Plus – multi-manager platform ClearAlpha Technologies’ first fund – on Thursday with commitments of several hundred million dollars from Asness, Stable Asset Management and other institutional investors.
Friday 6/2 Insider Buying Report: GO, OSUR (Nasdaq.com)
At Grocery Outlet Holding, a filing with the SEC revealed that on Thursday, Director Erik D. Ragatz bought 70,000 shares of GO, for a cost of $28.50 each, for a total investment of $1.99M. Grocery Outlet Holding is trading up about 4.3% on the day Friday. Before this latest buy, Ragatz bought GO at 2 other times during the past year, for a total investment of $3.06M at an average of $27.27 per share. And at OraSure Technologies, there was insider buying on Tuesday, by Chief Financial Officer Kenneth J. McGrath who bought 100,000 shares at a cost of $4.93 each, for a total investment of $492,810. This buy marks the first one filed by McGrath in the past twelve months. OraSure Technologies is trading up about 1.7% on the day Friday. McGrath was up about 14.6% on the purchase at the high point of today’s trading session, with OSUR trading as high as $5.65 at last check today.
$273M Bet On Occidental Petroleum? Check Out These 3 Stocks Insiders Are Buying (Benzinga)
Masimo: The Trade: Masimo Corporation (MASI) Director, CEO and Chairman of the Board Joe Kiani acquired a total of 6,365 shares an average price of $157.16. To acquire these shares, it cost around $1 million. Occidental Petroleum: The Trade: Occidental Petroleum Corporation (OXY) 10% owner Warren E Buffett acquired a total of 4,660,809 shares at an average price of $58.57. To acquire these shares, it cost around $273 million.
