This Month
ASX braces for capitulation after $9trn wiped from Wall Street
The country’s major asset managers and hedge funds will suffer historically large losses when the market opens, compounding a difficult year with poor returns.
Hedge funds hit with steepest margin calls since COVID-19 crisis
Wall Street banks have asked their fund clients to stump up more money as security for their loans because the value of their holdings had tumbled.
With global markets in turmoil, big super faces an epic stress test
The major funds will get a chance to prove they can handle the turbulence. But the financial system’s vulnerabilities have shifted from banks to pensions.
RBC shops at Morgan Stanley for hedge fund sales trader
Head of equities Karen Jorritsma told staff in an internal memo on Thursday the investment bank had lured across Sutton from Morgan Stanley.
Phil King’s Regal writes Opthea to zero and backs off risky bets
The veteran stockpicker told investors the firm would review how its $220 million wager on the biotech went so wrong “to ensure it does not occur again”.
March
Opthea in active talks with funders after second trial fails
The little hope left for Opthea shareholders has been crushed after the biotech said a second late-stage trial of its eye disease treatment had failed.
Hedge fund veteran Michael Hintze on the rise of machines, and returns
It has been a year since the billionaire investor sold his storied London fund. Now he’s back with a new fund in the midst of a rapidly shifting market.
This fundie shorted WiseTech and Tesla while loading up on war stocks
Betting against Richard White and Elon Musk while going long on defence companies are among this year’s hottest trades. Minotaur’s Tom Rice did it all.
The clinical trial result from hell has biotech investors on edge
From Phil King’s Regal Partners to Russel Pillemer’s Pengana Capital, fund managers loved vision treatment hopeful Opthea. Now they risk being wiped out.
Regal’s listed funds slash value of biotech Opthea by two-thirds
The hedge fund run by veteran stockpicker Phil King has told investors that the eye treatment play is worth 20¢ per share. It is the company’s largest investor.
Rio warns ASX-listed shares could slump 11pc if unification proceeds
Two influential governance advisers have backed a hedge fund-instigated vote that would force the miner to assess collapsing its dual-company structure.
Hedge fund boss Odey banned from working for ‘lack of integrity’
The UK regulator’s decision could mark the closing chapter in the stunning downfall of one of Britain’s most high-profile investment managers.
It’s Phil King’s Regal against the shorts at biotech play Opthea
The high-profile stockpicker is the eye disorder treatment hopeful’s biggest shareholder. Ahead of the results of a crucial clinical trial, shorts are rising.
Private equity is taking a public market beating
Gyrations on listed equities have delivered a double blow for PE. But one billionaire investor sees change coming.
Regal chief executive Brendan O’Connor dumps $3.4m in fund’s shares
The sale represented about 10 per cent of his holdings in the funds management business founded by stockpicker Phil King and came despite a share slump.
Wall Street’s hedge fund giants hit by Trump’s trade war
Citadel and Millennium are among the biggest multi-strategy funds in New York that are being forced to unwind crowded trades at a ferocious clip.
How Star’s ‘buyer of last resort’ entered its orbit at a meeting in New York
Star Entertainment looked everywhere for funds in recent months, just not the place it would end up attracting a bid. Why not?
Hedge fund giant Bridgewater bets against Australian stocks and bonds
Founded by Ray Dalio, the American investment giant will gain if the sharemarket falls and if long-term interest rates increase, new disclosures show.
An Australian perma bear ends retirement as markets turn upside down
Russell Clark was one of the world’s most bearish, and successful, hedge fund operators. After four years, he sees plenty of pain and is back for a second act.
Rio’s Australian shareholders to vote on London listing question
The mining giant faces a push from activist investors to reassess its dual-listed structure and leave the London Stock Exchange like major rival BHP did.