Bridgewater Associates Expands Global Footprint with New Office in Singapore (PR Newswire Asia)
SINGAPORE, Aug. 31, 2022 /PRNewswire/ – Bridgewater Associates (“Bridgewater”), a global leader in institutional portfolio management, today announced that it has opened an office in Singapore. Highlighting the importance of the pan-Asia market, Bridgewater’s new office is both symbolic of its deep commitment to the region and a natural progression of the firm’s long-standing partnership with clients in the area. “The world has increased in complexity and, in turn, so have the challenges our clients are facing,” said Kyle Delaney, President and Chief Commercial Officer of Bridgewater. “Our Singapore office has been many years in the making and allows us not only seek to provide best-in-class partnership to our clients in the region, but also to our global client base that will benefit from our deep understanding of this important market as a result of our presence here.”
Hedge Fund Manager Andurand Says Oil Futures Market Is Broken (Bloomberg)
The oil market is broken, according to hedge fund manager Pierre Andurand. The commodities trader known for his bullish calls opined on Twitter that futures can now move $10 a barrel lower a day “for no apparent reason.” The comments echo those of several market participants in recent weeks, including the Saudi Arabian Energy Minister Prince Abdulaziz bin Salman, who said extreme volatility and lack of liquidity has led to the futures market being increasingly disconnected from fundamentals.
Signed Portrait of Warren Buffett Fetches $75,100 at Auction (Reuters)
Aug 31 (Reuters) – A signed portrait of Warren Buffett fetched $75,100 at auction, with proceeds to benefit a hometown charity that the billionaire investor has long supported. The auction concluded on eBay on Tuesday night, Buffett’s 92nd birthday. The winner was not immediately identified. Created by Motiva Art, the high-tech portrait features rows of letters that light up to spell quotations attributed to Buffett, such as “Women make me optimistic about America.”
Pressmaster/Shutterstock.com
Hargreaves Lansdown Attracts Short-Sellers (Hedge Week)
Financial services company Hargreaves Lansdown has attracted the attention of short-sellers, with a record 5.69% of the company’s shares on loan to hedge funds including AQR Capital Management, Hound Partners and Marshall Wace, according to a report by This Is Money. The short positions equate to a £230 million bet against against the firm as it struggles to sustain the boom it witnessed during the pandemic. The report says official data shows that short positions in Hargreaves Lansdown have roughly doubled in the past six months.
Scotiabank Canadian Hedge Fund Index Ends July up 0.95% (-1.96% YTD) on Asset-Weighted Basis (Opalesque)
Opalesque Industry Update – The Scotiabank Canadian Hedge Fund Index ended July 2022 up 0.95% MOM on an asset-weighted basis and up 1.97% MOM on an equal-weighted basis. The comparable benchmark indices were both up for the month, with the S&P TSX 60 Total Return Index and S&P 500 Total Return Index posting increases of 3.91% and 9.22% respectively. The Scotiabank Canadian Hedge Fund Index provides a comprehensive overview of the Canadian Hedge Fund universe. Returns are calculated using an equal-weighting and an asset-based weighting of the funds. The index includes open and closed funds with a minimum AUM of C$15 million and a 12-month track record, that are managed by Canadian-domiciled managers.
