The scale will shrink by 200 billion in half a year! The worlds largest hedge fund faces the impact again

category:Finance
 The scale will shrink by 200 billion in half a year! The worlds largest hedge fund faces the impact again


In addition, qiaoshui also delayed the start-up time of some new junior employees until next year. Because more employees work from home, the company no longer needs the same number of support staff, and new technology is changing the type of people needed to serve customers, Mr. Qiao said.

However, due to poor performance in the first half of this year, qiaoshui was questioned by the market. By the end of June, qiaoshuis assets under management dropped from US $168 billion at the beginning of the year to US $140 billion, a decrease of about RMB 200 billion. In the first half of the year, the flagship fund of qiaoshui, pure alpha, lost 13.6% of its profits in the past five years.

As the worlds largest hedge fund, what is the signal of the layoff? Some industry insiders said that with the increasing impact of the epidemic on the U.S. economy and the performance is lower than expected, there may be more financial institutions joining the ranks of layoffs on Wall Street.

At the end of June, a report released by Johnson associates Inc., a compensation consulting firm, showed that Wall Street could cut bonuses by 20% to 15% this year and cut jobs sharply.

The bridge water fund laid off dozens of employees and pushed new employees to work until next year

Due to its outstanding achievements in the past and the popularity of the principles in China, qiaoshui is well-known in China. However, the bridge water fund has also begun to lay off staff recently.

According to the Wall Street Journal, Qiao Shui laid off dozens of employees this month, affecting the research department, customer service team and recruitment personnel, as well as the companys audit team responsible for evaluating department performance and its core management team.. Among them, the core management team is a management training program set up by ray Dalio, the founder of qiaoshui.

It is worth noting that some employees who have worked for more than 15 years at the zoom video conference were fired. In addition, qiaoshui has delayed the start-up of new junior staff in its research, account management and trading departments until next year. People familiar with the matter said the company wanted to avoid allowing new employees to join the company remotely. As of 2019, qiaoshui has about 1600 employees.

Because more employees work from home, the company no longer needs the same number of support staff, and new technology is changing the type of people needed to serve customers, Mr. Qiao said.

Although this will result in a higher than normal turnover rate this year, it will not be much higher than normal, and we will continue to invest and hire in key areas, leaving employees with generous severance payments and extended health insurance. Qiao Shui said in an email statement on Friday.

However, qiaoshui has been sued for compensation. Eileen Murray, a former co chief executive of the bridge water fund, sued the company on Friday, saying the company threatened to refuse to pay her deferred compensation because of her earlier public complaint of sexism.

It is understood that Murray left qiaoshui in April this year. She once disclosed that Qiao Shui gave her less severance pay than male employees of the same level. She said that this is the third time since 2017 that her salary return is lower than that of male colleagues at the same level.

In the first half of the year, the scale shrank by nearly 200 billion yuan

In the first half of this year, there was a rumor that bridge water burst in the market, which was later confirmed as a rumor. However, due to poor performance, bridge water this year has indeed been questioned by the market.

The difference between the market and the real economy will be an important thing. Once the virus subsides, the recovery of the market and the fluctuation of liquidity will help to stimulate economic growth, but the economic gap will require funds to pull down the market. Finally, they will reconcile, but the nature of the reconciliation will depend on how policymakers pull the leverage. Over time, extreme fiscal and monetary coordination will link the market to the economy: as inflation increases and real asset yields fall, nominal returns in the economy will rise, but nominal values may be positive.

On July 22, Qiao Shui Dario also published his latest long article. He looked at the economic war of great powers from the perspective of the dollar cycle. Taking nearly 500 years as an example, Dario revealed the life cycle of the alternation of different empires. It is never easy for any second power to replace the first power. Currency, politics, military, finance and so on are the core elements of change. Dario pointed out that the United States is still the most powerful empire, it is in a relative decline, Chinas power is rising rapidly, no other power can match it.

Dario believes that in this era, the greatest efficiency can be obtained by replacing human resources with technology. Therefore, the employment of human resources will become more and more unprofitable and inefficient, making enterprises lose competitiveness. Should we or shouldnt invest in people in an uneconomical way to make them productive? If our international competitors choose robots over humans, then if we choose to hire people over robots, we will not be competitive. Is our democratic / capitalist system capable of asking and answering these important questions and then doing something to deal with them?

As the worlds largest hedge fund, what is the signal of the layoff? Some industry insiders said that with the increasing impact of the epidemic on the U.S. economy and the performance is lower than expected, there may be more financial and financial institutions joining the ranks of layoffs on Wall Street.

According to Reuters, at the end of June, a report released by Johnson associates Inc., a compensation consulting firm, showed that Wall Street could cut bonuses by 20% to 15% this year and cut jobs sharply.

Layoffs are likely to become more common as many companies fail to meet their business and financial targets for 2020 to support more home-based workers, the report said. At the same time, this years bonus and salary of employees will be subject to strict review, including the salary of CEO of listed companies and its proportion to the salary of ordinary employees. Up to now, the financial industry has not seen significant layoffs, but production enterprises and retail industry have already seen large-scale layoffs. For example, at the end of June, Mercedes Benz announced another 10000 layoffs by the end of 2025, its old rival BMW announced 6000 layoffs, and Audi announced 9500 layoffs. In addition, Zara closed 1200 stores, Starbucks closed about 400 stores permanently, and Weimi declared bankruptcy. It is obvious that the epidemic has caused great impact on many enterprises. Source: securities companies China editor: Yang Qian_ NF4425

Up to now, the financial industry has not seen significant layoffs, but production enterprises and retail industry have already seen large-scale layoffs. For example, at the end of June, Mercedes Benz announced another 10000 layoffs by the end of 2025, its old rival BMW announced 6000 layoffs, and Audi announced 9500 layoffs.

In addition, Zara closed 1200 stores, Starbucks closed about 400 stores permanently, and Weimi declared bankruptcy. It is obvious that the epidemic has caused great impact on many enterprises.