Stock-picking hedge funds globally outperformed the broader sector with double-digit returns in 2021, despite a year beset by volatility and a new force of unpredictable retail traders flooding into the market to support "meme stocks." On average, equities hedge funds made gains of 12.3% in 2021, compared with 10% for peers more generally, according to data from industry tracker eVestment.
Stock-picking hedge funds globally outperformed the broader sector with double-digit returns in 2021, despite a year beset by volatility and a new force of unpredictable retail traders flooding into the market to support "meme stocks." On average, equities hedge funds made gains of 12.3% in 2021, compared with 10% for peers more generally, according to data from industry tracker eVestment.
Cryptocurrency investment products and funds had net outflows last week totaling a record $207 million, a report from digital asset manager CoinShares showed on Monday, as prices continued their tumble in the first trading week of the year. The sector has experienced four consecutive weeks of outflows since mid-December, reaching a total of $465 million, or 0.8% of total assets under management.
- Morgan Stanley (MS) has increased parental leave in a major overhaul of employee benefits aimed at easing the strain on its workers, according to an internal memo seen by Reuters on Thursday, as major Wall Street banks battle for talent. The investment bank said parents - whether through new birth, adoption, foster care or surrogacy - would be entitled to a minimum of 16 weeks of paid leave.
Morgan Stanley (MS) has increased parental leave in a major overhaul of employee benefits aimed at easing the strain on its workers, according to an internal memo seen by Reuters on Thursday, as major Wall Street banks battle for talent. The investment bank said parents - whether through new birth, adoption, foster care or surrogacy - would be entitled to a minimum of 16 weeks of paid leave.
- "Black Swan" hedge fund Universa Investments expects lower returns from risk capital including equity markets over the next few years due to frothy valuations. Mark Spitznagel, chief investment officer at Universa, which manages $11 billion in assets and has Nassim Nicholas Taleb as its distinguished scientific advisor, didn't comment on the magnitude of the fall he expected.
"Black Swan" hedge fund Universa Investments expects lower returns from risk capital including equity markets over the next few years due to frothy valuations. Mark Spitznagel, chief investment officer at Universa, which manages $11 billion in assets and has Nassim Nicholas Taleb as its distinguished scientific advisor, didn't comment on the magnitude of the fall he expected.
A group of 14 investors has called on Wizz Air (WZZAF) to allow employees to form and join trade unions, saying their research suggested the London-listed budget airline was discouraging the practice in breach of staff rights. The investor group, which raised their concerns in a letter seen by Reuters, included Britain's Ardevora Asset Management and Denmark's AkademikerPension.
- As a former music manager who once counted Elton John, Beyonce and Guns N' Roses as clients, Merck Mercuriadis has an eye for talent and a knack for identifying trends. As streaming services such as Spotify and Apple Music gained mainstream popularity, Mercuriadis formed the Hipgnosis Songs Fund to acquire music rights.
Global emerging market equity fund managers have cut their holdings in Turkish banks to a record low, data from Copley Fund Research showed, reducing exposure to an economy grappling with a plunging currency and soaring inflation.
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