Jupiter Fund Management Boss Nicola Pease Quits After Just Three Years for ‘Personal Reasons’ (This is Money)
Nichola Pease has quit as boss of Jupiter Fund Management for ‘personal reasons’ after just three years. Her sudden departure, two years after her 30-year marriage to hedge fund manager Crispin Odey ended, is likely to trigger questions from shareholders at the asset manager’s annual general meeting on May 10. Pease, 62, joined in 2020 and will be replaced by David Cruickshank as non-executive chairman and chairman of the nomination committee.
Ray Dalio Says China, US on ‘Brink of War’ (AFR.com)
Washington | Ray Dalio, the billionaire founder of hedge fund Bridgewater, says America and China are on the “brink of war”, and the situation will only deteriorate in the run-up to the US presidential election next year. Following a 13-day trip through China, Mr Dalio, whose fund Bridgewater Associates has managed billions of dollars for the sovereign wealth fund China Investment Corp, says he is in a “privileged and awkward position of being deeply attached to the two greatest powers in the world”.
Wagamama’s Hedge Fund Standoff Gets Spicier (Bloomberg)
After the hors d’oeuvre, the main course. It was a given that activist pressure on Restaurant Group Plc would ramp up sooner or later, after the owner of the Wagamama restaurant chain delivered an underwhelming strategic plan last month that sent the shares down 15%. The latest dish arrives with some fresh ingredients and a sharpness that will make it harder for the company’s leadership to resist the calls for change. First, the forces arrayed against TRG have become more substantial. Seth Fischer’s Oasis Management Co., which opened its campaign in mid-February by urging an independent strategic review, said on Tuesday that it has almost doubled its stake in the underperforming London-listed company to 12.3%. That would make it the largest shareholder, based on data compiled by Bloomberg. The Hong Kong-based investment firm complained it had been rebuffed in earlier attempts to engage with the board. It is now carrying a bigger megaphone.
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Team Evolution at Calculo (Hedge Nordic)
Stockholm (HedgeNordic) – After starting as a one-person fund boutique in 2018 and becoming a two-person shop in May 2022, Calculo Capital has now announced the appointment of Mark Steeltoft as a Client Specialist. The commodity-focused trend-follower will remain a two-person boutique as quantitative analyst Victor Lund Klestrup Hansen is pursuing his career outside Calculo Capital.
Recasting the Upcoming GameStop Movie: Here’s Who Should Play Ken Griffin, Steve Cohen, and the Rest of the Gang (Business Insider)
Today, we’ve got stories on a Goldman Sachs shareholder asking about David Solomon’s use of the bank’s jets, Wall Street’s “new” money, and what you need to do to fix your gut. But first, let’s run it from the top one more time. 1. Action! Wall Street is getting the Hollywood treatment again. The meme-stock saga, headlined by GameStop’s meteoric rise, is being made into a movie. Details are scant on the film, which is set to be released in October, but we know some of the cast…
