Odey bullish on UBS, Hindenburg bearish on Block Inc., hedge funds eye AT1 bonds
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This week in hedge fund world
?? Never one to shy away from a robust position, Crispin Odey has taken a bullish view on UBS’s rescue of Credit Suisse by investing 2% of Odey Asset Management funds in UBS shares... Read more
?? AT1 bonds, including those of Credit Suisse, are attracting the attention of large hedge funds and distressed debt investors, who are buying them up at discount prices...?Read more?
?? Talking of which… a new closed-end vehicle is launching to pursue opportunities in private and illiquid public credit. The fund, from hedge fund firm Ironshield Capital, will target $300m... Read more?
?? Next on the block? Hindenburg Research, the short seller behind a market rout that wiped over $100b in value from India's Adani Group, holds short positions in payments firm Block Inc... Read more?
???? Morgan Stanley is the latest firm to benefit from a Goldman Sachs defection hiring Brett le Roux, a cross-asset hedge fund sales exec based in London... Read more?
??? The US SEC has postponed a planned vote on a proposed new rule aimed at detecting risk in the $20trn private asset management sector... Read more?
The week in numbers??
?? 21% – the proportion of investors that plan to increase their exposure to long/short equity strategies in 2023, less than half the proportion that plan to increase exposure to private equity (52%)... Read more?
?? 40% – loss at Pierre Andurand’s main hedge fund since the start of 2023 after the banking crisis caused panic in commodities markets... Read more?
?? 4.9% – gain for emerging markets hedge funds in January, extending Q4 gains driven by rising US rates and continuing generational inflation, according to the HFRI 500 Emerging Markets Index... Read more?
? 66% – proportion of large investors planning to increase exposure to crypto over the next six months, according to research with 200 institutional investors and wealth managers from hedge fund Nickel Digital Asset Management... Read more?
Latest Hedgeweek research??
After a strong start to the year, it’s been a challenging and pivotal period for equity hedge funds. Do investors still consider them fit for purpose? Read Hedgeweek’s latest Insights Report to learn more.?
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