Tiger Global’s 20-Year Run in China Hits Snag on Crackdowns (Bloomberg)
After making a fortune in China for two decades, Tiger Global Management is taking a hit from the nation’s unexpectedly widespread regulatory crackdown. Chase Coleman’s $65 billion firm, at least by one measure, leads U.S. hedge fund peers with exposure to the country and has seen some of its biggest stakes plunge during this week’s selloff in Chinese stocks.
Credit Suisse Investigation into Archegos Scandal Reveals Multiple Failings But No ‘Fraudulent or Illegal Conduct’ (CNBC)
LONDON — An investigation into Credit Suisse’s dealings with the collapsed U.S. hedge fund Archegos Capital revealed Thursday that the Swiss bank had failed “to effectively manage risk.” The Archegos saga dominated the business headlines in March, with Credit Suisse being the worst hit out of several international banks involved.
Future Fund: Bigger Team, More Opportunity to Go Direct (Preqin)
With Australia’s sovereign wealth fund looking to substantially increase its investment headcount in the search for alpha, could more direct & co-investment opportunities be on the horizon? There may have been a general drop in direct & co-investment deal activity in Australia since 2018, but the competition for alpha could be about to change that. The formidable Future Fund, Australia’s sovereign wealth fund (SWF), hit a peak of AUD 179bn in assets under management (AUM) as of March 2021.
UK Consultant Sees Significant Upswing in ‘First Time’ Hedge Fund Investors (Hedge Week)
Hedge funds are attracting greater numbers of ‘first-time’ allocators, with “unusual amounts” of fresh investors showing an interest in the space, according to London-based investment consultant, bfinance. New interest has been growing since Q4 2020, accompanied by an increase in activity from clients with existing hedge fund portfolios. Toby Goodworth, Head of Risk & Diversifying Strategies at bfinance, commented that prior to the end of 2020, the focus of his team was more on absolute return multi-assets than hedge funds, but following Q4 2020, “it was almost like a light switch turned on, and interest has been very solid ever since.”
These Are The Top Performing Hedge Fund Strategies In 2021 (Entrepreneur)
After a robust performance in the second half of last year, the Hedge Funds industry continued its strong run in the first half of this year as well. The industry gave an average return of 5.7% YTD (till June), after gaining almost 9% in 2020. In the last twelve months, the hedge funds have given a return of more than 18%, compared to more than 2.4% by bonds and over 38% by equities, as per the data by Aurum. Different hedge funds follow different strategies to earn a return for their investors, and as usual, some strategies performed better than others. Let’s take a look at the top performing hedge fund strategies in 2021 so far.
‘You Chose War’: Hedge-Fund Rift Emerges From Cum-Ex Probe (Bloomberg)
A London hedge fund dispute exposed a bitter rift between two former business partners who were targeted for their alleged roles in the sprawling Cum-Ex tax scandal a year ago. Duet Group’s CEO Henry Gabay was ordered by a judge in London to pay Alain Schibl $2.5 million to cover debt outstanding from an arbitration settlement this week. The pair, who founded the London-based hedge fund together in 2002, traded insults and allegations of improper conduct at the hearing that pushed their spat into the public domain.
Blue Owl Collects $2bn for Debt-and-Equity Opportunistic Fund (Opalesque)
The alternative asset manager Blue Owl Capital Inc. has raised $2 billion for an opportunistic fund targeting both equity and debt investments. The fund, Owl Rock Opportunistic Fund, will have $2.5 billion in investable capital, including anticipated leverage, and will target investments including rescue financings, recapitalizations, and debtor-in-possession loans. The fund received commitments from pension funds, endowments, foundations, family offices, and asset managers.
Wednesday 7/28 Insider Buying Report: BLFY, ATLO (Nasdaq.com)
On Tuesday, Blue Foundry Bancorp’s Director, Robert Thomas Goldstein, made a $92,700 purchase of BLFY, buying 7,500 shares at a cost of $12.36 each. Goldstein was up about 1.5% on the buy at the high point of today’s trading session, with BLFY trading as high as $12.55 in trading on Wednesday. Blue Foundry Bancorp is trading up about 1% on the day Wednesday. And at Ames National, there was insider buying on Friday, by Director James R. Larson II who bought 500 shares for a cost of $23.50 each, for a total investment of $11,750. Before this latest buy, Larson II purchased ATLO on 11 other occasions during the past twelve months, for a total investment of $77,769 at an average of $22.22 per share. Ames National is trading up about 0.6% on the day Wednesday. Larson II was up about 1.4% on the purchase at the high point of today’s trading session, with ATLO trading as high as $23.82 at last check today.
The CFO of Uranium Energy (NYSE MKT: UEC) is Selling Shares (Analyst Ratings)
Yesterday, the CFO of Uranium Energy (UEC), Pat Obara, sold shares of UEC for $138.4K. In addition to Pat Obara, 7 other UEC executives reported Sell trades in the last month. Following Pat Obara’s last UEC Sell transaction on April 06, 2018, the stock climbed by 0.8%. UEC’s market cap is $508 million and the company has a P/E ratio of -25.70. The company has a one-year high of $3.67 and a one-year low of $0.82.
Dell Technologies Inc (DELL) CFO Thomas W Sweet Sold $19.3 million of Shares (Guru Focus)
CFO of Dell Technologies Inc, Thomas W Sweet, sold 200,000 shares of DELL on 07/26/2021 at an average price of $96.57 a share. The total sale was $19.3 million.
