Hedge Fund of Blackpool FC Owner Simon Sadler ‘Cut Off’ by Bank of America and Citigroup Over Trading Concerns (Business-Live.co.uk)
The hedge fund of Blackpool FC owner Simon Sadler has been cut off from trading equities with two of its banks about its bets on the sale of large blocks of shares, according to reports. All equity trading with Segantii Capital Management has been suspended by Bank of America and Citigroup, the FT reports. The FT adds that Bank of America has stopped trading with Hong Kong-based Segantii in all financial instruments.
The Rise and Fall of Wall Street’s Most Controversial Investor (NYMag.com)
Around the middle of April, Cathie Wood sat onstage at the storied Fontainebleau hotel in Miami. It was an awkward time to be a keynote speaker at a conference for money managers: Wood’s flagship fund, the ARK Innovation ETF, had lost roughly half of its value over the prior year, as its aggressive bets on hot companies from Coinbase to Robinhood and Tesla had melted down amid a bear market in tech stocks.
Toshiba Nominates Houlihan Exec as Chair, Invites Elliott, Farallon Execs to Board (Reuters)
TOKYO, May 26 (Reuters) – Toshiba Corp on Thursday nominated executives from two of its major hedge fund shareholders for board seats, potentially a turning point in a long battle between the Japanese conglomerate and its activist shareholders. Toshiba also nominated Akihiro Watanabe, an executive at M&A advisory firm Houlihan Lokey, as board chairperson, a key post as the company undertakes a fresh strategic review.
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Nickel Digital Arbitrage Fund Outperforms S&P500 Despite Crypto Crisis (Hedge Week)
London-based Nickel Digital Asset Management (Nickel), a regulated crypto hedge fund manager, has outperformed the S&P500 since January 2020, despite the initial strong performance of equities during the Covid period. The firm’s Digital Asset Arbitrage Fund had returned 25.5% net of fees between 1 January, 2020, and 24 May, 2022, compared with 22.2% by the S&P 500 and 25.5% by the NASDAQ Composite over the same period.
Mets Owner Steve Cohen Invests in Startup 24-7 Stock-Trading Platform (New York Post)
Hedge fund billionaire and Mets owner Steve Cohen is investing in a startup that wants to make 24-7 stock trading a reality – cashing in on the armchair-trading craze that heated up during COVID lockdowns. Amid Reddit boards stuffed with trading tips that have targeted beaten-down stocks left for dead only to see the companies – like GameStop and AMC – roar back to life, Cohen and 24 Exchange are betting the enthusiasm exists to support 24-hour-a-day, 7-day-a-week trading.
Blackstone’s Pierog to Leave Hedge Fund Unit as Departures Mount (Bloomberg)
Blackstone Inc. is losing another member of its hedge fund solutions group, adding to a string of departures that followed leadership changes at the unit. Michael Pierog, head of Blackstone Alternative Asset Management’s hedge fund seeding business, is the latest managing director to leave. Pierog joined Blackstone in 2013 from Barclays Plc and earlier worked at Davidson Kempner Capital Management.
Hedge Fund Manager Kyle Bass: We’re in Stagflationary Environment, Recession Likely (Seeking Alpha)
Closely watched hedge fund manager Kyle Bass argued Thursday that the economy has entered a stagflationary environment, as the Federal Reserve struggles to get inflation under control and as higher food and energy costs weigh on the consumer. “I think the economy is going to cool off and we will have a recession by the end of this year or the beginning of next year,” the founder and chief investment officer of Hayman Capital Management told CNBC.
ESG Funds Face New Disclosure Rules from SEC (Financial News)
Regulators proposed new disclosure and naming requirements for investment funds that tap into public angst regarding climate change or social justice, in an effort to address concerns about “greenwashing” by asset managers seeking higher fees. The Securities and Exchange Commission voted 25 May to issue two proposals that aim to give investors more information about mutual funds, exchange-traded funds and similar vehicles that take into account ESG – or environmental, social and corporate-governance – factors.
Hedge Fund Management Fee Market is set to Fly High Growth in Years to Come (2022-2027) (Voice of The South)
The Global Hedge Fund Management Fee Market study describes how the technology industry is evolving and how major and emerging players in the industry are responding to long term opportunities and short-term challenges they face. One major attraction about Hedge Fund Management Fee Industry is its growth rate. Many major technology players – including BlackRock Fund, Vanguard, UBs Group, Fidelity Investments, State Street Global Advisors, Morgan Stanley, JPMorgan Chase, Allianz Group, Capital Group, Goldman Sachs, Bank of New York Mellon, PIMCO, Amundi, Legal & General, Credit Suisse, Prudential Financial, Edward Jones Investments, Deutsche Bank, T.Rowe Price, Bank of America, Sumitomo Mitsui Trust Holdings, E Fund Management, China Asset Management, Gf Fund Management, China Southern Asset Management, Fullgoal Fund Management, China Universal Asset Management, China Merchants Fund Management.
Waha Capital’s MENA Equity Fund wins EuroHedge 2021 Award (Zawya)
Abu Dhabi, United Arab Emirates: The Waha MENA Equity Fund (“Fund”) managed by Waha Capital PJSC (ADX: WAHA), an Abu Dhabi-listed investment management company, has been recognised as the Best Emerging Markets Equity fund by the EuroHedge Awards 2021. The Fund, which invests in a diversified portfolio of publicly listed companies across the MENA region, delivered a 42.8% net return in the 12 months to end of April 2022. Since its inception in 2014, the Fund has made 296.4% net return, significantly outperforming the 94.5% return of its benchmark.
Thursday 5/26 Insider Buying Report: BX, MIDD (Nasdaq.com)
At Blackstone, a filing with the SEC revealed that on Wednesday, Director James Breyer purchased 9,326 shares of BX, at a cost of $107.21 each, for a total investment of $999,885. Breyer was up about 7.2% on the buy at the high point of today’s trading session, with BX trading as high as $114.90 at last check today. Blackstone Inc is trading up about 3.3% on the day Thursday. And on Tuesday, Director Nassem Ziyad purchased $276,414 worth of Middleby, purchasing 2,035 shares at a cost of $135.83 each. Middleby is trading up about 2.8% on the day Thursday. Ziyad was up about 6.3% on the purchase at the high point of today’s trading session, with MIDD trading as high as $144.42 at last check today.
Insiders Buy More Than $13M Of 3 Stocks (Benzinga)
Appian: The Trade: Appian Corporation (APPN) 10% owner Colin Moran acquired a total of 163,390 shares at at an average price of $43.95. To acquire these shares, it cost around $7.18 million. AdaptHealth: The Trade: AdaptHealth Corp. (AHCO) Director Matthew Ebbel acquired a total of 209,300 shares at an average price of $17.31. To acquire these shares, it cost around $3.62 million.
