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☆ To woo investors, hedge funds are reviving a strategy left for dead post-crisis — supercharged index investing
▼ + stars: | 2024-08-01 | by ( Alex Morrell | ) www.businessinsider.com time to read: +12 min

Read previewFaced with higher rates and a daunting fundraising climate, hedge funds are wooing investors with a seemingly antithetical pitch: index investing with a twist. Hedge fund industry insiders are abuzz right now about "portable alpha," a blast-from-the-past strategy that's undergoing a revival. According to the Morgan Stanley white paper, it can take on a variety of forms, including "dedicated portable alpha funds, portable alpha share classes, portable alpha feeder funds and other solutions." Advertisement"It's a nice way of smuggling hedge funds into your portfolio if you're an allocator," said Jon Caplis, CEO of hedge fund research firm PivotalPath. He said much of the industry still hasn't woken up to the appetite for portable alpha solutions and the potential boon to hedge funds.

Persons: —, punchier, Kim Shaw, Morgan Stanley, There's, Shaw, Penny Novick, Morgan, Novick, Bill Gross, Myron Scholes, PIMCO's, Roark Stahler, Jon Caplis, Russell, PIMCO, Sabrina Callin, Brian Payne, Payne, Caplis, hasn't Organizations: Service, Trading, Business, Man, CME Group, BlackRock, Barclays, Russell Investments, Institutional, State, Investor, BCA Research, Teachers, Investors Locations: Winton, American, Illinois

☆ Brevan Howard has transformed since Alan Howard gave up the reins. Meet the five portfolio managers with the most capital at the $35 billion hedge fund.
▼ + stars: | 2024-07-09 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +8 min

Read previewThere is perhaps no better example of the hedge fund industry's maturation than Brevan Howard. The $35 billion firm has changed considerably since 60-year-old Alan Howard stepped back from running its day-to-day operations in 2019. Now, Howard — the firm's majority owner — no longer manages money at Brevan. The firm's two biggest funds — the long-running, $11.9 billion Master Fund and the younger, $12.2 billion Alpha Fund — each manage more money now than the entire firm did five years ago. Advertisement"The real challenge is keeping the trading talent," said Nagi Kawkabani, a former Brevan Howard co-CEO told Institutional Investor in 2019.

Persons: —, Brevan Howard, Alan Howard, Howard, Howard —, Rishi Shah, Fash, Minal Bathwal, Trifon Natsis, Aron Landry, James Vernon, Jean, Philippe Blochet, Chris Rokos —, Natsis, Landry, Brevan, Nagi Kawkabani, Shah, Shaw, He's, he's Organizations: Service, Business, Fund, Alpha, Credit Suisse, Alpha Fund, Citadel, Bloomberg, Investor, United Arab, Winton Group Locations: Brevan, Ville, Natsis, Abu Dhabi, United Arab Emirates

☆ An inside look at the workings of the 4-part arbitrage and momentum quant strategy driving an award-winning fund that's beaten 99% of its peers
▼ + stars: | 2024-06-29 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

For the ATRFX fund, this means betting on currencies, equities, commodities, and bonds, but not in a direct way. Instead, it employs everything from arbitrage strategies, riding out momentum and interest rates, or sitting on the sidelines when it's choppy. Over the last couple of years, higher interest rates have brought in some good yields. Related storiesOne step further is to arbitrage interest rates across currencies. Investors can do this by identifying national currencies with low interest rates, borrowing in that currency, and then lending in the currencies with higher interest rates.

Persons: David Miller, ATRFX, Miller, It's, that's, Yen, it's Organizations: Service, Systematic Alpha Fund, Business, Catalyst Capital Advisors, BNP Paribas, BNP, Commodities Commodities, Bloomberg, Federal Reserve

☆ An award-winning fund manager explains the investing process that's delivered 4 top-2% finishes in the last 5 years — and shares the income-maximizing strategy that has him swimming in cash
▼ + stars: | 2024-03-23 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

The fund manager hasn't departed from the offense-defense strategy he outlined last summer, and he's still confused as to why more of his counterparts haven't followed suit. Related storiesThe top fund manager added: "So that leads people to this conclusion that maybe I should just index and put it all in the S&P 500. Diversifying in these ways reduces risk while improving returns, the fund manager said. There are several considerations when looking at corporate bonds, Miller said, including the issuing company's debt load, cash flow, and industry. After explaining his process for selecting corporate bonds, Miller mentioned a few companies with attractive debt.

Persons: David Miller didn't, Miller, Morningstar —, hasn't, he's, haven't, you'd, that's, —, Miller doesn't Organizations: Systematic Alpha Fund, Business, Retail, Catalyst Funds, BNP, Constellation Brands, Modelo, McDonald's, HCA Healthcare Locations: Europe, Japan, Corona

☆ A top-7% fund manager shares his strategy for winning in both up and down markets — and names 5 of his favorite stocks to buy during the rally to all-time highs
▼ + stars: | 2024-01-31 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. But fund manager Mick Rasmussen of Wasatch Global Investors isn't going all-in on stocks. For this fund, buying stocks is only part of the equationAs a long/short fund manager, Rasmussen can profit from both winning and losing stocks. Rasmussen usually has 50 to 60 holdings each on the long and short sides of his fund, he said. Advertisement"We hope that regardless of what the market's doing, our stock-picking is going to be the biggest driver of performance," Rasmussen said.

Persons: —, Mick Rasmussen, there's, Rasmussen, Morningstar, Stocks, We're, Rasmussen doesn't, they're Organizations: Service, Wasatch Global Investors, Business, Wasatch, Alpha Fund Locations: Utah

☆ Ken Griffin is on top of the hedge fund world. Read his memo to the Citadel team.
▼ + stars: | 2024-01-22 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +2 min

Read previewAnother big year for billionaire Ken Griffin and Citadel has extended the lead the Miami-based money manager has over its peers. It brought the firm's all-time gains to $74 billion, close to $20 billion more than the two firms tied for second all-time, D.E. The two firms have generated $56.1 billion in profits since they launched, according to the rankings. In an internal memo titled "Citadel Widens Lead as Most Profitable Hedge Fund of All Time," Griffin wrote, "We not only retained the #1 ranking, but we also more than doubled our lead over our closest competitors in the past year." Citadel confirmed the contents of the memo but declined to comment further.

Persons: —, Ken Griffin, Shaw, Ray Dalio's Bridgewater, Edmond de Rothschild, Griffin Organizations: Service, Citadel, Business, LCH Investments, Millennium, Bloomberg, LCH, Fund Locations: Miami, Connecticut, Wellington

A continued rally in stocks forced many hedge funds to unwind their bets against equities last month. US BOND MARKET LIQUIDITYBridgewater actively bets on the direction of various types of securities — including stocks, bonds, commodities and currencies — by predicting macroeconomic trends. He said that liquidity in the U.S. government bond market was getting worse, as the Treasury increases bond issuance. Bridgewater's Pure Alpha 12% volatility fund gained 2.5% in the year through Aug. 11, a third source familiar with the matter said, while the Defensive Alpha fund, less dependent on equities, rose 2.1%. Since it was launched in 1991, Pure Alpha 12% has generated 7.7% net total returns annually, according to the same source.

Persons: Ray Dalio, Greg Jensen, Bridgewater's, Nell Mackenzie, Ira Iosebashvili, Michelle Price, Emelia Organizations: U.S ., Singapore, Bridgewater Associates, Reuters, Nasdaq, Treasury, Alpha, Hedge Fund Research, Thomson Locations: Bridgewater, U.S, London, Carolina, New York

☆ Allianz ex-manager must face US fraud charges related to $7 bln investor loss
▼ + stars: | 2023-08-04 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

In an order made public on Friday, U.S. District Judge Laura Taylor Swain in Manhattan federal court denied Tournant's motion to dismiss the five-count indictment, which also includes an obstruction charge. Tournant said dismissing the indictment was justified because prosecutors' "intrusion" into his attorney-client relationship had been "manifestly and avowedly corrupt." Two other former portfolio managers have pleaded guilty in the case and agreed to cooperate with prosecutors. The case is U.S. v. Tournant, U.S. District Court, Southern District of New York, No. Reporting by Jonathan Stempel in New York; Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Persons: Charles Platiau, Gregoire Tournant's, Laura Taylor Swain, Tournant, Swain, Allianz's, Sullivan, Cromwell, Jonathan Stempel, Marguerita Choy Organizations: Allianz, La Defense, REUTERS, Alpha Funds, Prosecutors, U.S . Securities, Exchange Commission, Court, Southern District of, Thomson Locations: Puteaux, La, Paris, France, U.S, Manhattan, Southern District, Southern District of New York, New York

☆ The manager behind an award-winning fund that's beaten 99% of peers over 5 years shares the investing strategy that's brought him so much success — and 6 ways he's investing now
▼ + stars: | 2023-05-19 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

But instead of basking in the success and recognition he's received recently, Miller told Insider that he's most excited about the outside-the-box investing strategy that he's concocted. Become a champion investor by playing defense — and making these 6 movesThe investing strategy Miller uses is related to an old sports adage: offense sells tickets, but defense wins championships. The defensive component of Miller's fund is more sophisticated. Currently, Miller's fund is following this method by selling bond futures contracts, which is a hedge against higher interest rates. If Markowitz saw Miller's fund, he may be proud.

☆ Exclusive: Bridgewater raises new fund strategy less dependent on equities
▼ + stars: | 2023-03-05 | by ( Carolina Mandl | ) www.reuters.com time to read: +3 min

Connecticut-based Bridgewater, which manages $145 billion, launched the "Defensive Alpha" strategy in July last year, regulatory filings showed. The new strategy is an addition to other offerings from the 48-year-old hedge fund, best known for its All Weather and Pure Alpha funds. In that market last year, Bridgewater's flagship fund, Pure Alpha gained roughly 9.5% and outperformed global equities indexes. Pure Alpha actively bets on the direction of various types of securities — including stocks, bonds, commodities and currencies — by predicting macroeconomic trends. On Wednesday, Chief Executive Nir Bar Dea announced a major overhaul at the hedge fund, including restricting investments in Pure Alpha and plans to launch new products.

☆ Job cuts, a sole CEO, and AI bets: How Bridgewater is shaking itself up after the Ray Dalio era
▼ + stars: | 2023-03-01 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +8 min

The firm's CEO, Nir Bar Dea, said in a memo that it would lay off employees and restructure. Bar Dea had been a rising star at Bridgewater, which has transitioned leadership in recent years. Former co-CEO Mark Bertolini is also stepping out of the role and returning to Bridgewater's board as an independent director, leaving Bar Dea as sole CEO. "Over time, we expect this platform to produce the next round of growth in the business," Bar Dea wrote. 'Finding a home'As far as high finance executives go, Bar Dea has an unexpected background.

☆ The largest hedge fund in the world just named a 37-year-old woman as a co-CIO. Meet the top 11 execs leading Bridgewater into its new era.
▼ + stars: | 2023-02-02 | by ( Alyson Velati | Michelle Abrego | ) www.businessinsider.com time to read: +12 min

Karen Karniol-Tambour will join co-CIOs Greg Jensen and Bob Prince to oversee the hedge fund's investment strategy. Despite a breakout year for many multi-strategy and macro hedge funds, Bridgewater lagged behind its peers. Nir Bar Dea, co-CEOBar Dea. Bridgewater AssociatesAs cochief investment officer, Jensen oversees Bridgewater's investment strategies and research efforts as well as its investment talent. Since joining Bridgewater in 1986, he has been a partner in building the hedge fund's investment process and products.

☆ Infinity Q fund settles with U.S. regulator over asset inflation
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +2 min

Nov 10 (Reuters) - The U.S. Securities and Exchange Commission on Thursday tentatively settled civil charges against an Infinity Q Capital Management mutual fund over its founder's alleged scheme to inflate the fund's value. In papers filed in federal court in Manhattan, the SEC and Infinity Q Diversified Alpha Fund asked a judge to appoint a special master to oversee the fund's ongoing liquidation. Attorneys for the fund and Infinity Q did not immediately reply to requests for comment. Before it suspended investor redemptions in February 2021, the Diversified Alpha Fund's assets were valued at $1.73 billion. The case is SEC v. Infinity Q Diversified Alpha Fund, U.S. District Court, Southern District of New York, No.

☆ Meet the 11 execs leading Bridgewater into a new era after Ray Dalio relinquished control of the hedge fund
▼ + stars: | 2022-11-04 | by ( Alyson Velati | ) www.businessinsider.com time to read: +14 min

Bridgewater AssociatesAs cochief investment officer, Jensen oversees Bridgewater's investment strategies and research efforts as well as its investment talent. Karen Karniol-Tambour, cochief investment officer for sustainabilityKaren Karniol-Tambour, Bridgewater's cochief investment officer for sustainability. Rebecca Patterson, chief investment strategistBridgewater's chief investment strategist, Rebecca Patterson. In 2012, she joined as the chief investment officer of Bessemer Trust, managing $85 billion in client assets. The partnership elected three directors to Bridgewater's operating board of directors, which now has control over Bridgewater after Dalio relinquished control of the hedge fund.

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