Hedge funds are shifting away from technology stocks, particularly semiconductor and chip equipment, following robust gains in Q1 2024, according to a report by CNBC citing data from Goldman Sachs’ prime brokerage. 

Balyasny Asset Management has terminated its $250m managed account with Franck Tuil’s activist hedge fund, Sparta Capital Management, within a year of initially backing the former Elliott Investment Management trader, according to a report by Bloomberg.  

TOP STORY: Bobby Jain, founder and CEO of New York-based hedge fund firm Jain Global, said that hedge funds face growing competition from private credit firms for investor capital, on a panel at the UBS Singapore Family Wealth Forum on Thursday, according to reports. 

TOP STORY: Earlier this year, Bayview Asset Management structured two re-securitisation trades worth $642m, the structures of which were modelled after similar pre-2008 financial crisis transactions by a major US bank, according to a report by Reuters. 

Philip King, CIO at Regal Funds Management, has initiated a short position in the shares of Commonwealth Bank of Australia, pointing to what he describes as one of the world’s most expensive valuations, according to a report by Bloomberg.