Money Manager Exane Joins Peers in Freezing Fund Withdrawals

Exane Asset Management has suspended dealing in one of its funds, citing fallout from the spread of the deadly coronavirus.

The French boutique money manager said the valuation of a number of derivatives traded over the counter and held in its Exane Integrale Fund has “shifted significantly from their theoretical value,” leading it to freeze the money pool, according to a statement on its website on Wednesday...

Hudson Bay Plans to Raise Funds Amid ‘Outstanding Opportunities’

The $5 billion hedge fund Hudson Bay Capital Management is seeking to raise capital for a new share class designed to take advantage of the market sell-off.

“The dislocations to come will provide amongst the most outstanding opportunities of my career,” Sander Gerber, who oversees the New York-based firm, said Tuesday in a letter to investors. “To take full advantage of these opportunities, we will be setting up new share classes within our multistrategy fund to supplement investments in the main portfolio...”

Plunging Conditions Drag Down Hohn’s TCI

Plummeting stock prices have sent TCI Fund Management’s returns deep into negative territory.

Sources said the London firm recently was running a year-to-date loss of more than 20% through its flagship vehicle, The Children’s Investment Fund. The situation worsened late last week, with industry participants pegging the entity’s slide at about 30%...

Billionaire Bill Ackman Made 100-Fold Return On Coronavirus Hedge That Yielded $2.6 Billion

Bill Ackman is a hedge fund billionaire, but he isn't known for his hedges.

Most of the time Ackman’s fund, Pershing Square, is almost 100% long by way of an ultra-concentrated portfolio of large stock holdings. His current style is to find about seven-or-eight companies he believes strongly in and bet between $500 million and $1 billion on each.

So when Ackman decided to protect Pershing Square’s $6.5 billion portfolio of stock holdings..

Glitchy coronavirus markets cause quant funds to misfire

Glitchy coronavirus markets cause quant funds to misfire. Renaissance, Two Sigma and DE Shaw suffer unusual setbacks...

Citadel is still hiring, even while people work from home

COVID-19 may be upending reality, but it's not changing the fact that there are still critical roles to fill or that new hires are arriving who signed contracts before the pandemic was declared on 11 March and the market dislocation began on 9 March. Some of those staff seem to be arriving at Citadel.

LinkedIn indicates that Citadel has made already several hires on both sides of the Atlantic in March. They include: Roland Beunardeau, who joined in London as an equity market neutral analyst from GLG; Kieran Douglas, who also joined in London as a software engineer from Morgan Stanley; Grant Wilder, who joined in London as a macro analyst from Balyasny; and Angela McNabb, a deputy COO who joined in New York from BlueMountain Capital Management.

UTIMCO’s Assets Down 12% YTD

UTIMCO's total managed assets have fallen by about 12% to $45 billion so far this year, from $50.5 billion as of Dec. 31, investment officers told company directors during a board meeting Tuesday.

But the investment team is prepared to take advantage of investment opportunities resulting from current market turmoil to rebuild assets under management, said T. Britton Harris III, president, CEO and CIO, in an audiocast of the meeting..

Asia asset managers change work rules amid coronavirus pandemic

Asian fund management firms have made key operational changes, including splitting up teams to minimise contact between employees, relocating them to other branches, and holding online meetings, to deal with the coronavirus pandemic.

There are now over 290,000 infections worldwide and almost 13,000 deaths from Covid-19, the disease caused by the coronavirus, according to latest figures from the World Health Organisation...

Big deals in limbo spell ‘arb-ageddon’ for hedge funds

Hedge funds that bet on the completion of pending mergers and acquisitions are nursing heavy losses, as the coronavirus outbreak wreaks havoc in global markets and puts many deals in jeopardy...

DE Shaw Quant Fund Takes Hit From Markets Gone Haywire

‘Statistical arbitrage’ fund was the group’s original strategy when founded in 1988.

DE Shaw’s priciest, most exclusive hedge fund has lost more than 9 per cent this month...