Hedge funds gain +1.7% in August, led by a record +10% month for commodity macro... [more]Matthias Knab, Opalesque: Hedge funds more than erased their July setback in August, but the month's defining number came from a corner of the industry that rarely makes the headlines: commodities.
The HFRI Macro: Commodity Index vaulted +10.0% for the month, the strongest monthly gain
How the AI and the hedge fund talent war pushed Man Group to reimagine its $156bn quant empire... [more]Man Group has merged its two long-standing quantitative investing businesses, AHL and Numeric, into a single $156 billion unit called Man Systematic. The combination, which brings together more than 250 employees, reflects how AI is changing quantitative research and intensifying the battle for tale
How one hedge-fund manager built his firm to be powered entirely by AI agents... [more]Former cryptocurrency hedge fund manager Brian Kelly has built Bracket22, a trading operation run almost entirely by specialist AI agents, cutting annual labor-related costs from roughly $5 million to $30,000-$40,000. The firm trades Kelly's own capital across crypto, stocks and commodities, with ag
AI hedge fund vs traditional: The architectural shift in alpha generation for 2026... [more]While the industry fixates on the speed of execution, the true revolution in alpha generation is the systemic dismantling of human cognitive failure. Most investors have experienced the frustration of watching seasoned traditional managers freeze or overreact during periods of extreme macro volatili
The hedge fund industry's biggest players added USD 224bn in 20 months... [more]The nine largest hedge funds have added a combined $224 billion in assets since early 2025, with industry assets reaching $5.6 trillion at midyear, up 25% since the end of 2024. Millennium now manages $97 billion and is set to lock in $22 billion of fresh commitments on October 1, while AQR has surp
The GFC taught The Big Short's Greg Lippmann one lesson - he thinks markets have forgotten it... [more]LibreMax Capital founder Greg Lippmann and Antipodes Partners are warning that credit risk has migrated from pre-GFC mortgages toward lower-quality corporate lending and private credit. They highlight weakening lender protections - more than 90% of leveraged loans are now covenant-light versus about
Party's over for crypto scammers who went on a spending spree after a $240 million bitcoin theft... [more]A network of young scammers stole more than $240 million of bitcoin from a Washington, D.C. resident in August 2024 by posing as representatives of Google and crypto exchange Gemini and obtaining access to more than 4,100 bitcoin. The group then spent heavily on sports cars, private jets, luxury wat
Hedge funds bet yen will strengthen beyond 150 by year-end... [more]Hedge funds are increasing options bets that the yen will strengthen through 150 per dollar by the end of 2026, with some longer-dated positions targeting 140. The wagers reflect expectations that diverging Bank of Japan and Federal Reserve policy will support Japan's currency after USD/JPY traded a
Labour warned of tax revenue 'shock' in New Year after billionaire latest to leave Britain... [more]Chris Rokos, Britain's third-largest individual taxpayer last year after paying GBP330 million, has moved his tax residency to Greece, adding to concerns over wealthy individuals leaving the UK. Economists and opposition politicians warn that departures by a relatively small number of very large tax
Why we should all fear the exodus of Britain's 'wealth creators' amid Labour's war on success... [more]The departure of hedge fund billionaire Chris Rokos for Greece has intensified debate over whether UK tax changes are driving wealthy entrepreneurs and investors abroad. Rokos paid GBP330 million in tax last year and donated GBP190 million to Cambridge University, making his move emblematic of conce
The UK's problem isn't losing its billionaires class - it's creating trillion-dollar companies... [more]The departure of hedge fund billionaire Chris Rokos for Greece will cost the UK one of its biggest individual taxpayers, but the article argues that Britain's deeper problem is its failure to build and retain world-leading technology companies. It points to businesses such as Arm and DeepMind as exa
Athens is also targeting the people who make hedge funds work... [more]Greece is seeking to capitalize on the relocation of billionaire hedge fund manager Chris Rokos by positioning Athens as an attractive base for international investment firms and wealthy financiers. Rokos Capital Management plans to establish an Athens office as its founder shifts his tax residency
Abu Dhabi finance hub draws 4,700 new professionals despite war... [more]Abu Dhabi's financial center has continued expanding despite regional geopolitical tensions, attracting about 4,700 new professionals. The growth reinforces the emirate's emergence as a global finance hub as hedge funds, asset managers, banks and other financial firms continue building operations in
Mistral AI raises record EUR3 billion in Samsung-led funding round... [more]French AI company Mistral has raised EUR3 billion in a Series D led by Samsung Electronics, nearly doubling its valuation to more than EUR21 billion. The round, which Mistral says is the largest equity fundraising ever completed by a European technology company, also included the EU-backed Scaleup E
Now hedge Verition hired a London commodities COO from the fund that closed its gas trading business... [more]Verition Fund Management has hired Melanie Payne as commodities COO in London after she previously served as London COO at Roscommon Analytics, which shut its natural gas trading desk in January following losses. Payne describes herself as an expert in building and scaling operational functions, and
Dymon Asia boosts Japan coverage with former Capital Group partner... [more]Dymon Asia has hired former Capital Group partner Shintoku Nishiwaki as a senior analyst in Singapore, strengthening its coverage of Japanese equities. Nishiwaki joins Praful Kumar's team covering India, ASEAN and Japan as Dymon's multistrategy fund expands beyond $9 billion in assets, up from $3 bi
AlphaQuest seeks to dismiss lawsuit over hedge fund wind-down... [more]AlphaQuest has asked a New York court to dismiss a lawsuit brought by Stichting QSV Beheer, a Dutch foundation that invested $45 million in the quantitative hedge fund. QSV alleges founder Nigol Koulajian lost control of parts of the trading operation and breached an agreement governing repayment, w
Deloitte sued in the US over former Sydney banker's failed hedge fund... [more]Investors in collapsed hedge fund strategy Mars FX are suing Deloitte in the US, alleging the auditor gave unwarranted credibility to the fund by signing off on its financial statements without qualification. Mars FX reported hundreds of millions of dollars in assets before almost $600 million went
And, finally: How a robo-vacuum brought Taiwanese man into jail... [more]From Newsoftheweird: The South China Morning Post reported that a Taiwanese man who used a robot vacuum cleaner to record his wife cheating on him has been sentenced to prison for invading her privacy.
In 2023, upon finding a used toothbrush in the couple's rarely visited vacation home, the unnam
In an era of deepfakes, phantom fortunes, and narrative warfare, the challenge of distinguishing reality from illusion has never been more acute. For those stewarding generational wealth, the stakes are existential. This 11th edition of Horizons delves into the critical quest for clarity, offering a toolkit to navigate a world rife with deception and to build a foundation of verifiable trust.
Our journey begins with a chilling investigation into
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Matthias Knab, Opalesque for New Managers: On July 9th, participants from 28 countries joined Opalesque's "Kant & Capital" webinar - not for a lecture, but for a workshop. The premise: after sixty years of labels - SRI, triple bottom line, ESG, impact - each of which fell short of its promise, i..
