Ay ay ay! Gold is approaching a death cross and all sorts of other commodities are looking nasty too.
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Within the big wide world of Asia-focused funds, some interesting trends emerge via recent research from Singapore-based consultancy GFIA.
As the FT reports on Tuesday, Asia-based hedge fund managers have been generating higher returns than those outside the region running similar strategies, according to the GFIA study, which tracked the performance of 668 funds from January 2005 to May 2010. Read more
It’s just as well that George Soros has a philosophy (as the Wall Street Journal reminds us) of spotting a bubble and buying it, as he puts it.
Hopu Investment Management, the Beijing-based buy-out fund set up by former Goldman Sachs dealmakers, is set to acquire a massive stake in China’s Minsheng Banking Corp as part of the lender’s $4bn Hong Kong IPO. Hopu is understood to have pledged to buy $1bn of Minsheng stock to back the city’s biggest IPO of the year. The move represents a huge bet for Hopu, which will become a key shareholder in China’s largest privately owned bank after its listing. Soros Fund Management is among overseas investors seeking a $100m stake in Minsheng.
GLG, the London-based New York-listed hedge fund, with more than $20bn under management, has lost another of its star traders.
Robert Donald, a trader who dealt with European Industrials and basic resources at the firm’s £1bn European Long/Short fund, was reputed to be considering a move to Soros Fund Management, according to yesterday’s Sunday Times, which said the situation was “still live”. Read more