Six Chinese funds soared last year between 28 percent and 49
percent, making HSBC’s top 20 list.
No wonder hedge funds like Bridgewater Associates are
clamoring to get into the Chinese hedge fund market. Last year,
six of the top 20 performing hedge funds were invested in
China, according to a weekly HSBC report on hedge funds.
In its last weekly report of 2017, HSBC said that Golden
China Fund was up 48.91 percent through December 15. Telligent
Greater China Fund gained 45.30 percent through November; Guam
China Focus Segregated Portfolio rose 43.51 percent through
December 22; Pinpoint China Fund Class A was up 33.34 percent
through December 15; Mandarin Offshore Fund gained 32.65
percent through December 15; and Zeal China Fund rose 29.38
percent through December 15, the report shows.
BlockTower Capital, one of almost 100 new digital currency
hedge funds, has hired former Goldman Sachs Group executive
Michael Bucella as global head of strategic partnerships and
business development. Bucella had been at Goldman since 2008,
according to a January 4 statement from BlockTower
announcing the hire.
The firm was founded by former Goldman Sachs executive
Matthew Goetz and Ari Paul, who was formerly a portfolio
manager at the University of Chicago’s endowment
and a trader at Susquehanna International. Goetz is
BlockTower’s CEO and Paul is CIO. The firm
confirmed that it has raised $140 million. Bloomberg first reported the fundraising
sum, citing people familiar with the matter.
Cambridge Analytica, the data and analytics firm backed by
former Renaissance Technologies co-CEO Robert Mercer, is being
dragged into the Senate probe over President
Trump’s ties to Russia, according to a January 3
report by Newsweek. On Wednesday, Senator Dianne Feinstein
(D-Calif.), the top Democrat on the Senate Judiciary Committee,
requested information about Cambridge Analytica, Newsweek reported.
The Judiciary Committee is investigating the Trump
campaign’s links to Russia. Mercer was a key Trump
backer during the election, bringing Steve Bannon and KellyAnne
Conway to the campaign. Bannon was on the board of directors of
Cambridge Analytica before he went to work in the White
Soros Fund Management has taken a 7.78 percent passive stake
in ServiceSource International, through a combination of common
shares and convertible notes, according to a regulatory filing.
Corporate tax cuts and low interest rates make Appaloosa
Management’s David Tepper as bullish on the stock
market as he was a year ago, according to a CNBC report
Thursday. "Explain to me where this market is rich?
It’s not rich with the tax thing that just changed
earnings projections. With earnings forecasts going up and
interest rates where they are, how is this market expensive? I
don’t see the overvaluation. World growth is
higher," Tepper said in a phone interview with CNBC.