Latest news with #hedgefund
Reuters
14 hours ago
- Business
- Reuters
Singapore hedge fund Arrowpoint capitalised on May market turmoil
HONG KONG, June 3 (Reuters) - Singapore's multi-strategy hedge fund Arrowpoint Investment Partners has made gains by exploiting market dislocations triggered by global trade tariff shocks and sees more arbitrage opportunities ahead, its chief investment officer said. Since mid-April, the $1.1 billion fund has capitalised on extreme dislocations in equities, currencies and bond curves, founder and CIO Jonathan Xiong told Reuters. May was the fund's best month since its launch last July, up more than 3%, said a person familiar with the matter who declined to be identified. By comparison, multi-strategy hedge funds were on average flat in April, data from With Intelligence shows. Backed by Blackstone, the Canada Pension Plan Investment Board and Temasek's Seviora, Arrowpoint was Asia's largest hedge fund startup last year. It now has around 110 staff with over 20 trading pods. "Everything has got more volatile, but there are also opportunities that were so abundantly clear," said Xiong, a former Asia co-CEO of Millennium Management. Arrowpoint exploited dislocations in Asia FX markets using non-deliverable forwards and profited from Australian rate curve anomalies following U.S. President Donald Trump tariff announcements, Xiong said. It was able to take advantage of temporary mispricing in asset prices, betting they would eventually revert to normal levels. "One thing I noticed is that Asia dislocations take much longer to come back as the market is less liquid compared to the U.S.," Xiong said. Arrowpoint, however, stayed clear of Japan's rate markets, where super-long bond yields were driven to record highs in May. "The risk premium injected towards the longer end of the Japan curve may be warranted given investors' repricing of global bond term premiums," he said. At the Sohn Hong Kong Investment Leaders Conference on Friday, Xiong pitched a long China/short Japan 'risk parity' trade, which involves buying China stock index futures and 5-year government bonds, while shorting similar Japanese assets. He said investor interest in Asia-based multi-strategy funds is rising as there's growing concern about over-exposure to U.S. markets.
Bloomberg
18 hours ago
- Business
- Bloomberg
US Hedge Fund Raider Turns London Defeat to Victory
US hedge fund manager Boaz Weinstein was rebuffed when he tried storming the boardrooms of seven UK investment firms earlier this year. But the activist has since shown he didn't need to win to achieve his goals and to make money. To recap, Weinstein sees an opportunity in publicly traded companies that invest their capital in stocks and sometimes private firms. Shareholders of these so-called investment trusts get something similar to a mutual fund with the added benefit of daily liquidity and access to equity investments they might be unable to make directly. These trusts typically trade at a discount to their underlying portfolio value. Blame corporate bloat – the costs of a board, advisers, financial reporting and so on – and often mediocre to poor investment performance.
Bloomberg
a day ago
- Business
- Bloomberg
Brokers Have Some Good Ideas
The Wall Street Journal last week had a profile of Marshall Wace, which has perhaps the most delightfully contrarian investment model in finance: listening to the sell side. If you run a big hedge fund (Marshall Wace manages $70 billion), salespeople and analysts at every investment bank will constantly ping you with trade ideas. You can have various models of those trade ideas 1; two leading ones are: So the consensus is that if you set up a hedge fund whose investment model was 'we'll just get phone calls from banks and do what they tell us to,' that would not work very well. But Marshall Wace … doesn't do that exactly, but it kind of does that, and it does work very well. From the Journal:
Bloomberg
a day ago
- Business
- Bloomberg
Quant Hedge Fund CFM Eyes Canada Expansion With Toronto Office
French quantitative hedge fund Capital Fund Management SA opened an office in Toronto to attract wealthy investors in Canada. Steve Shepherd, CFM's head in the country, said he's seeking to partner with a local firm in order to market Canada-domiciled versions of its existing strategies to retail investors. The firm wants those versions to be available next year.
Bloomberg
a day ago
- Business
- Bloomberg
Crypto Prime Broker FalconX Takes Majority Stake in Hedge Fund Monarq
Digital asset prime broker FalconX has taken a majority stake in the parent company of multistrategy crypto hedge fund Monarq Asset Management, as the firm seeks to expand asset management services. Terms of the transaction weren't disclosed. The privately-held company views the investment as an opportunity to expand its institutional client base beyond hedge funds, proprietary trading firms and asset managers, according to Austin Reid, global head of revenue and business at FalconX, which is headquartered in San Mateo, California.
