Investor Bill Gross is set to make headlines with the sale of his rare stamp collection at an auction in New York, with estimates suggesting it could bring in $15mn to $20mn and set a record for a US stamp collection. Meanwhile, Julia Hoggett, chief executive of the London Stock Exchange, has proposed erecting a screen outside its headquarters to showcase the market’s success stories and combat pessimism.
Short sellers in the hedge fund industry are feeling the heat due to a flurry of UK takeover bids, with many being caught out as stock prices soar after receiving offers. This year has seen an 84% increase in M&A deals involving UK targets compared to the same period last year, putting short sellers at risk of losing big on their bets against companies like fund supermarket Hargreaves Lansdown and cyber security provider Darktrace.
On the other hand, environmental, social, and governance (ESG) equity funds are seeing a decline in investor interest, with net withdrawals of $40bn this year. This marks the first year that flows have turned negative, with poor performance and scandals contributing to the waning enthusiasm for ESG investments. Despite the negative sentiment towards ESG funds, the underlying environmental and social challenges will continue to be a focus for investors.
Hedge funds are increasing their bets against Eurozone government bonds, reaching their highest level in more than two years. This comes as the European Central Bank cuts interest rates but raises its inflation and growth forecasts for the year, demonstrating a lack of confidence in the ECB’s ability to stimulate economic growth. The rise in bets against European government bonds also reflects concerns over inflation numbers and the ECB’s signaling of future monetary policy decisions.
In other news, activist investor Elliott Management is pushing for a $15bn share buyback from SoftBank, while Bill Ackman has sold a stake in Pershing Square ahead of a possible IPO. Shein is planning to list on the London Stock Exchange, but concerns about worker treatment may hinder investor support. Additionally, a US appeals court has thrown out new SEC rules aimed at increasing transparency in private equity and hedge funds, while the AI arms race in asset management is shifting towards guiding investment decisions and identifying opportunities.
Lastly, the annual showhouse exhibit at London’s Design Centre showcases interior designers’ creative rooms, with standout designs inspired by Eastnor Castle and featuring unique collaborations. The design community continues to push boundaries and innovate, offering a glimpse into the future of interior design trends.
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