Weekly round - up

Vinland taps Banco Santander’s Head of Credit Risk in Brazil

Reginaldo Takara has departed from his role as Banco Santander's Head of Credit Risk in Brazil to assume the position of Partner and Head of Credit Research at Vinland Capital, a Brazilian hedge fund co-founded by former Goldman Sachs Group Inc partner Andre Laport. A Bloomberg report states that Vinland's Jean-Pierre Cote Gil will responsible for developing a unit primarily focused on corporate bonds over the past year.

Vinland, founded by Laport in 2018 alongside James Oliveira, a former controlling partner at Banco BTG Pactual SA, has experienced a notable increase in assets under management, reaching approximately BRL18 billion ($3.7 billion) from BRL4 billion at the end of 2021. The firm's credit arm, which has introduced three funds focusing on local corporate debt, credit-backed securities, and infrastructure bonds providing investors with tax exemptions, accounts for around BRL2 billion of the total assets.

Citadel Securities appoints BNP Paribas trader as head of sterling team

eFinancial Careers reports that Ioana Scripcaru has joined the London-based team at Citadel. With nearly a decade of experience at BNP Paribas in London, specialising in Euro and GBP swaps trading, Scripcaru assumed the role of Head of GBP Trading for the bank in 2021. Now, at Citadel she will be the Head of Sterling Trading.

Macro and relative value lead hedge fund sector gains in October

Leading the way in October, macro strategies propelled gains for the hedge fund industry. The HFRI Macro Index showed a positive increase of +0.7%, achieving its third consecutive month of growth and contributing to an impressive trailing three-month return of +4.2%. These gains unfolded in the midst of heightened volatility, driven by increased geopolitical and interest rate risks. Equities and bonds faced declines, echoing the challenges observed in the previous month.

October demonstrated a varied performance for hedge funds. The broad movements in equities, combined with escalating interest rates fuelled by persistent inflation concerns and a surge in geopolitical risks due to the military conflict in Israel, presented a complex landscape. Despite the intense volatility, the HFRI Asset Weighted Composite Index remained relatively steady, registering a slight decline of -0.02%. In contrast, the HFRI Fund Weighted Composite Index, which allocates equal weights to all constituent funds, experienced a decline of -1.4% for the month.

Unlimited to launch multi-manager hedge fund replication strategy

Unlimited, an investment firm co-founded by former Bridgewater Associates executive Bob Elliott, is gearing up to introduce a novel hedge fund

MarketWatch reports that the upcoming 'Agile Replication' strategy will leverage technology to allocate funds across various replicated hedge fund investment styles. It was also use AI to systematically adjust allocations across major asset classes, encompassing stocks, bonds, fixed income, corporate credit, and currencies, in response to macroeconomic conditions.

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