Hedge funds suffered almost $98 billion in net outflows in 2019, the most in three years, as managers trailed the stock market rally. Investors pulled more than $16 billion from the industry in December alone, capping a year that saw the longest stretch of monthly client withdrawals since the 2008 financial crisis, according to data compiled by eVestment. The redemptions […]Read more
Brandon Haley’s hedge fund has tripled assets to $5.3 billion in 2 1/2 years — with more money at the ready. Holocene Advisors has a wait-list of eager investors but to keep growth manageable it’s only periodically taking in limited amounts of money from certain clients and turning others away, according to people with knowledge of the matter. The firm, […]Read more
There's been an 'unheard of' stock market shift this week and it's crushing hedge funds. Here's everything you need to know.
You might have missed it, but there’s been some remarkable shifts in the stock market over the past few days. In particular, there’s been a shift from momentum stocks, or those that have had the wind behind their backs, to value stocks, or those stocks that had been ignored and are considered cheaper. A number of hedge funds had bet […]Read more
Meet the 8 people with new ideas about data, fees, and tech who are shaking up the $3.2 trillion hedge fund game
The hedge fund game is dominated by big players, and it can be tough for true innovators to carve out a niche. Here are eight people making their mark with new twists on fees, data, ESG investing, and more. Investors have questioned the hedge fund industry’s high fees and recent lackluster performance — which has helped make the case for […]Read more
Balyasny just cut 10 people running a $2 billion book. The hedge fund axed the one-year-old team because of poor performance, sources say.
Dmitry Balyasny’s hedge fund has cut its 10-person Synthesis team, which uses a mix of quant and fundamental stock-picking techniques and ran a $2 billion book of business, sources tell Business Insider. Synthesis team leader Mike Daylamani is among the cuts – he joined Balyasny in 2018 after spending nearly a decade working for Steve Cohen. Sources say the cuts […]Read more
A total of 18 CEO changes were announced in 2018, itself well above of the annual average since 2011 of 12, and the highest figure since 2007. HSBC's John Flint became the latest casualty on Monday, after the bank announced it needed a change in leadership after just 18 months with Flint at the helm. Of the 14 companies to […]Read more
Muddy Waters is a splendid name for a short-selling hedge fund that claims to spot accounting shenanigans at listed companies. Carson Block, its founder, doesn’t get it right every time, but he has a big following. That partly explains the thumping 46% fall in Burford Capital’s share price after one of the hottest stocks on London’s alternative investment market received […]Read more
$32 billion money manager Angelo Gordon told investors its 'Super Fund' is up slightly for the year after big bets on Puerto Rican debt and Toshiba
Angelo Gordon’s $1.9 billion multi-strategy hedge fund, known as the Super Fund, has returned 3.4% through April, but a letter to investor says the firm has lost two portfolio managers that started the firm’s liquid credit strategy. Michael Liebman and John Rudic resigned from the manager this quarter, the letter reads, after joining Angelo Gordon from Millennium in 2017. Out […]Read more
Maybe machines can figure out this crazy stock market. At least that’s what quantitative traders who have struggled to beat the market for years will be hoping as a band of their peers roll out computer-driven strategies that learn from their own mistakes. Lynx Asset Management, for one, is planning a new fund in October that executes strategies thought up […]Read more
In this article On the way up, the lack of conviction in this year’s U.S. stock rally was a source of vexation and fear for many bulls. Now some hope it will be their salvation. Swaths of Wall Street’s investing elite never bought into the 2019 rebound, so now that it’s threatening to turn sour they don’t have much to […]Read more