Hedge funds reduce bullish gas bets as volatility slides (FinancialPost)
Hedge fund bulls accelerated their withdrawal from U.S. natural gas markets as volatility and prices declined on abundant supply. Speculators cut their net-long position across four benchmark contracts by 11 percent in the week ended Sept. 2, the most in three weeks, U.S. Commodity Futures Trading Commission data show. Bullish wagers have declined for six consecutive months, the most in data compiled by Bloomberg since 2010. Short positions rose to a nine-month high.
DHR Hires Hedge Fund Recruiter Quinn (Finalternatives)
Executive search firm DHR International has hired Kate Quinn for its financial services group. Quinn joins as executive vice president and will be based out of the firm’sNew York office. Prior to joining DHR, Quinn was a partner at the executive search firm Boyden, which she joined in 2013. Before that she worked with CTPartners, Westwood Partners and Options Group, where she focused on originating and completing searches for capital markets and hedge fund clients.
Under Gov. Chris Christie, New Jersey’s Wall Street Investments Trailed S&P 500 (IBTimes)
New Jersey investment officials have directed increasingly large slices of state pension money into riskier investments, such as hedge funds, touting their strategy as a means of limiting exposure to a volatile stock market. They’ve argued that their approach would maximize overall returns and justify the higher fees paid to Wall Street money managers. But in seven of the eight years since the state began shifting pension funds into so-called alternative investments, returns have fallen well short of the broader stock market, an analysis of state financial records shows.
Third Point Re considering setting up a U.S. presence (Artemis)
Bermuda-based hedge fund backed reinsurance firm Third Point Re is looking to establish a U.S. presence, either through establishing a separate U.S. domiciled company or a Bermudian entity which is a U.S. tax payer, to improve access to business. Third Point Reinsurance Ltd (NYSE:TPRE), backed by hedge fund manager Dan Loeb’s Third Point LLC, is one of the more interesting hedge fund backed startups to watch. With an ambition to underwrite profitably as well as leverage the returns possible through Dan Loeb acting as investment manager, the firm seeks to outperform its peers.
Corn appeal ends hedge fund’s bearish spree on ags (Agrimoney)
Hedge funds took a break from extending bearish bets on farm commodities for the first time since June, reflecting improved sentiment on soft commodities and livestock – but also on corn, which they appear to be spreading against soybeans. Managed money, a proxy for speculators, raised its net long position in futures and options in the top 13 US-traded agricultural commodities, from soybeans to sugar, by nearly 29,000 contracts in the week to last Tuesday, the day after the US Labor Day holiday.
Recommended Reading:
CBRE Group Inc (CBG): ValueAct Capital Agrees To Sell Over 6 Million Shares
