‘Unvarnished’ Bio of Ray Dalio Scheduled for Next Fall (STLToday.com)
NEW YORK (AP) — An “unauthorized, unvarnished” biography of billionaire hedge-fund manager Ray Dalio will be published next fall, authored by a Wall Street Journal investigative reporter whom the Bridgewater Associates founder has called biased and dishonest. “The Fund: Ray Dalio, Bridgewater Associates and the Unraveling of a Wall Street Legend,” by Rob Copeland, was announced Wednesday by St. Martin’s Press. The publisher is billing the book as a counterpoint to Dalio’s “mystique of success,” with Copeland drawing upon hundreds of interviews for an in-depth portrait of Dalio and Bridgewater.
One of the World’s Biggest Hedge Funds to Charge Fee That’s Fueling Talent War (Bloomberg)
Brevan Howard Asset Management is preparing to charge some clients in its main hedge fund a new fee structure that’s fueled the ability of giant funds to poach top traders. The firm will start a share class in its flagship Brevan Howard Master Fund to introduce the so-called “pass through” fees, according to people familiar with the matter and regulatory filings. It intends to raise money next month under the arrangement in its $10 billion strategy that has been closed to new cash, said one of the people, who asked not to be identified because the details are private.
PriorNilsson Sees Opportunities in Real Estate (Hedge Nordic)
Stockholm (HedgeNordic) – The Swedish housing market, one of the hottest property markets during the pandemic, shows early signals of a global housing cooldown amid central banks’ efforts in tackling soaring inflation. PriorNilsson Fonder has launched a long-biased long/short equity fund, PriorNilsson Fastighet, to capitalize on opportunities in both Swedish and global real estate markets. “We find that the turbulence in the market creates great opportunities to buy undervalued assets, where we broadly believe that the market has discounted a worse scenario than the underlying businesses actually face,” explains Gustav Sällberg, who is responsible for managing PriorNilsson Fastighet. “We find that the market mayhem creates an attractive entry point for our clients’ long-term returns – as it is a long-biased fund.”
Rawpixel.com/Shutterstock.com
Hedge Funds Bullish on Long/Short and Global Strategies Despite Recent Woes (Hedge Week)
More than 40% of hedge fund managers expect LPs to increase investment allocations to long/short and global strategies in the next 12 months, research from EisnerAmper suggests. The result was taken from a survey conducted during the advisory and accounting firm’s 7th Annual Alternative Investment Summit last month. Last year, the strategy received 67% of the vote. Other strategies tipped for LP investment this year include event-driven (33%), credit (29%), and quant (19%).
Hedge Funds Go into Battle with Mike Ashley as Bets Against Asos Hit All-Time High (Telegraph.co.uk)
Prominent hedge funds from both sides of the Atlantic have gone into battle with Mike Ashley over his stake in Asos by increasing bets against the fast-fashion retailer. Citadel, the Chicago fund founded by billionaire Ken Griffin, and Mayfair outfit Marshall Wace, are among a clutch of investors to have increased short positions in Asos since Mr Ashley’s stake – made via Frasers Group – was revealed this weekend. Some 8.4pc of Asos stock is on loan to short-sellers, the highest on record, and surpassing large bets placed against the company in 2016, according to regulatory filings.
