Liquid Alternatives News

TOP STORY: Global hedge funds have reduced their exposure to US software stocks to “new multi-year lows” following a broader sell-off in the technology sector, according to a report by Reuters citing a recent note from Morgan Stanley’s prime brokerage division.

Anthony ‘the Mooch’ Scaramucci’s SkyBridge Capital has restricted client withdrawals from its crypto-focused hedge fund, even as the fund’s returns have soared, according to a report by Bloomberg citing a recent regulatory filing.

Hedge funds including the UK’s Man Group are increasingly investing in South Korea’s chipmakers, betting that a surge in AI-driven demand for high-end memory chips and substantial government support will boost their value, according to a report by Reuters.

Bill Hwang, founder of the now-defunct hedge fund Archegos Capital Management, has been found guilty of securities fraud and market manipulation which resulted in billions of dollars in losses for global investment banks, according to a report by the Associated Press.

Hedge fund bets on a stronger pound reached their highest level in more than six years ahead of last week’s UK election, driven by investor confidence in a Labour victory bringing stability to the country’s politics and economy, according to a report by Bloomberg.

Hedge funds posted mixed performance in June as election and political risks surged throughout Asia, Europe and the US, with European and Asian central banks cutting interest rates despite inflationary pressures, and gains in US large cap tech stocks hitting record highs.

Australia’s $2.6tn pension market, one of the world’s fastest-growing pools of retirement capital, is reducing its hedge fund investments amid growing regulatory scrutiny over fees and performance, according to a report by Bloomberg.

Hedge funds that bet against Tesla have been hit hard by a substantial rally in the company’s share price, with 18% of over 500 hedge funds tracked by Hazeltree holding short positions in Tesla by the end of June, up from 15% at the end of March, according to a report by Bloomberg.

Confidence among hedge fund managers dipped in the second quarter of the year, falling below the historical average as measured by AIMA’s Hedge Fund Confidence Index, although managers remain generally optimistic about the prospects for their businesses.

Hedge funds saw mixed performance in the first half of the year, with macro fund Caxton Associates struggling to maintain its gains, while some multi-strategy and systematic funds excelled, according to a report by Reuters.

Bridgewater Associates will increase the performance fees for its onshore funds in China, capitalising on strong returns that have attracted significant assets despite ongoing challenges in the country’s RMB5.2tn ($715bn) hedge fund industry, according to a report by Bloomberg.

Die Zahl der neu aufgelegten Hedgefonds ist zu Jahresbeginn angestiegen, während die Liquidationen konstant blieben, sodass das Vermögen der Branche ein Rekordniveau von 4,3 Billionen US-Dollar erreichte, wie HFR-Präsident Kenneth J. Heinz berichtet. Er geht davon aus, dass die Branche 2024 weiter wachsen wird.