Hedge fund Samlyn has liquidated all stocks outside the financial sector and laid off its senior analysts.
21 minutes ago
Rob Pohly’s Samlyn Capital is laying off senior analysts; the firm has previously liquidated exposure to nearly all sectors, retaining only global financial stocks and shifting its investment focus to this area. According to people familiar with the matter, the $7 billion equity hedge fund sold off stocks in multiple sectors including industrials, technology and retail weeks ago, earlier than the recent market sell-off. The recent slump has hit the entire hedge fund industry hard. One source said that as of October, the fund is down around 5% year-to-date. Going forward, Samlyn will primarily trade global financial stocks, a sector that Pohly has focused on for decades. The firm retains analysts dedicated to financial sector research. Samlyn is not returning capital to investors; instead, it is reinvesting proceeds from the sale of other holdings into financial stocks, or holding cash temporarily for future deployment.
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