Some of the top U.S. hedge fund investors and activists, including Jana Partners LLC, took new positions or raised their equity stakes in fast food chain McDonald's Corp during the first quarter, according to regulatory filings on Friday.
Hedge funds that had a record short position coming into this week must be a little bit worried that crude oil prices could not stay lower after the Energy Information Administration reported a mind boggling 10.3 million barrel build in crude oil supply.
U.S. stock-index futures fell, after the Standard & Poor’s 500 Index rose to a record Tuesday, as data showed a drop in housing starts and wholesale prices before the release of minutes from the last Federal Reserve meeting.
The pound fell to the weakest level in a month versus the euro as a report showed the U.K. inflation rate stayed near a five-year low, adding to speculation the Bank of England will delay increasing interest rates.
The $298 billion California plan, known as Calpers, said Sept. 15 that it would eliminate its $4 billion allocation to hedge funds. The Sacramento-based fund said the investment vehicles were too complex, costly and small to affect performance. It began the strategy in 2002.