Liquid Alternatives News

Man Group, the world’s largest listed hedge fund, is among a number of investment firms increasing their exposure to convertible arbitrage, which seeks to capitalise on price discrepancies between a convertible bond and its underlying stock, according to a report by Bloomberg.

Nelson Peltz, the boss of activist hedge fund firm Trian Fund Management, has sold his entire stake in Walt Disney Co weeks after losing a proxy battle in April at the entertainment giant, according to a report by CNBC.

Activist hedge fund firm Elliott Investment Management has disclosed a stake of more than $2.5bn in chipmaker Texas Instruments, and has written a letter to the company’s board urging the business to improve its free cashflow.

Hedge funds are cutting their stakes in large-cap technology stocks, shifting their focus to a broader range of companies that are involved in, or stand to benefit from advancements in AI, according to analysis from Goldman Sachs.

Two funds previously controlled by Odey Asset Management saw strong performances, ranking them among the top 10 best performing funds globally in April, according to data from Société Générale.

Jain Global, the much anticipated hedge fund set to be launched soon by former Millennium Management Co-Chief Investment Officer Bobby Jain is to commit a significant chunk of its investment funds to commodities – both derivatives and physical, according to a report by Bloomberg.

Hedge funds experienced their first negative month of the year in April, with a weighted average return of -0.7%, according to new data from Citco, but remain in positive territory for 2024 with a year-to-date weighted average return of 6.5%.

Elliott Investment Management, the $8bn activist hedge fund firm founded by Paul Singer, has built a stake worth over $1bn in Johnson Controls International, a specialist in HVAC control systems used by data centres, according to a report by Bloomberg.

Hyperion Decimus, a digital asset management firm and a sponsor of a multi-strategy crypto hedge fund, has launched the HD CoinDesk Acheilus Fund, a strategy that will invest in digital assets leveraging institutional grade fiduciary management.

Peconic Partners, the $1.8bn long-short hedge fund firm run by Bill Harnisch, has continued a four-year winning run so far in 2024, with the fund up 18% year-to-date, extending a run of outperformance that includes a 26% gain in 2022 when the S&P 500 lost nearly 20%, according to a report by Bloomberg.

As well as proving popular with retail investors, bitcoin ETFs have caught the attention of hedge fund majors including Millennium Management, Schonfeld Strategic Advisors and Point72 Asset Management, according to a report by Bloomberg.