Gibbins’ Autonomy Hedge Fund Takes Further Losses in January (Bloomberg)
Losses at Robert Gibbins’s hedge fund continue to mount. Autonomy Capital Research LLP’s flagship global macro fund declined 6.6% in January, according to people with knowledge of the matter. This follows a 26% slump last year, its biggest since the financial crisis, after a series of ill-timed bets on Latin America, said the people, who asked not to be identified because the details are private. The fund has been trading about 2.5% higher so far this month, one of the people added.
Voted Best Two Years in a Row (Hedge Nordic)
Stockholm (HedgeNordic) – Low-net long/short equity fund Alcur has been named the “Hedge Fund of the Year” by Swedish business magazine Privata Affärer for a second consecutive year. Alcur, which reached its 15-year anniversary this January, returned 5.3 percent in 2021 following an advance of 18.8 percent in 2020, the fund’s best year on record. “The hedge fund Alcur manages to live up to the “market-neutral” label and becomes the Hedge Fund of the Year for the second year in a row,” writes Privata Affärer.
What Warren Buffett Might Say About the $12 Million Gold Cube in Central Park (Acorns)
An artist promoting his cryptocurrency placed a 410-pound gold cube in Central Park last week. The stunt recalls a Warren Buffett analogy from 2011 where he imagined all of the world’s gold forged into a $9.6 trillion cube the size of a baseball infield. The cube wouldn’t produce anything, pay you any money, or do anything but sit there, Buffett wrote.
Macro Hedge Funds Gain in Volatile January, Says HFR (Hedge Week)
Macro hedge funds posted strong, negatively-correlated gains in January as equity and fixed income markets suffered steep losses, while investors positioned for sharp interest rate increases and generational inflationary pressures to begin 2022, with investable HFRI 500 Macro Index advancing +1.35 per cent for the month. The gains in Macro combined with narrow gains across fixed income Relative Value Arbitrage strategies partially offset weakness in higher-beta, directional strategies, as the HFRI Fund Weighted Composite Index (FWC) declined -1.7 per cent for the month, topping the sharp decline of the Nasdaq by over 700 basis points.
Intel Launches $1bn Fund to Support Tech Startups (Opalesque)
Intel is launching a $1 billion fund to support early-stage startups or other companies building technology for the foundry ecosystem. That could include novel intellectual property, software tools, chip architecture, or advanced packaging, all with the common theme of technology that speeds products to market. The fund was announced following a collaboration between Intel’s venture capital arm Intel Capital and its recently launched Intel Foundry Services (IFS) business. The IFS business will use the chipmaker’s semiconductor fabs to produce processors for other companies, such as cloud providers, based on their own custom designs.
