hedge funds

Hedge funds have heavily upped exposure to gold in recent weeks, viewing the metal's poor relative performance year-to-date as a buying opportunity.

The Royal Bank of Scotland (RBS) should be converted so that it resembles a Canadian bank, a document created by a hedge fund boss and unwittingly shown to the press has proposed.

Hedge fund manager Man Group's shares nosedived on Wednesday, after its flagship hedge fund AHL reported one of its biggest weekly losses.

BlackRock has hired Daniel Whitestone from UBS to bolster its UK small- and mid-cap equities team.

HEDGE

An ultra-bearish US hedge fund manager shorted gold a year ago, when it was still in favour with most investors, and thinks the price of the metal is on track for a multi-year drop.

Hedge fund supremo John Paulson has reportedly lost almost $1bn of his personal wealth since the end of last week after the price of gold crashed.

Sir Paul Ruddock, head and co-founder of hedge fund Lansdowne Partners, is to step down from his role at the end of June.

Hedge fund giants are said to be preparing to short sterling after it fell to its lowest level against the dollar since July this week.

Hedge fund managers have been increasing their short positions in sterling amid fears the currency is set to depreciate further as investors flock to the euro.