Hedge funds and other alternative investments will no longer be dubbed "shadow banks" by global regulators, lifting a pejorative label which has stuck to the $45 trillion sector since the financial crisis.

Oceanwood Capital Management has promoted Julian Garcia-Woods to the role of chief portfolio advisor in a reshuffle of the $2 billion (£1.5 billion) hedge fund's leadership, a source with direct knowledge of the matter told Reuters.

Man Group , the world's largest listed hedge fund, said on Friday that funds under management rose 0.4 percent in the third quarter, helped by investment gains and net inflows.

Hedge fund managers started to take some profits after the strong rally in crude oil prices, even before details emerged last week of output increases from Saudi Arabia and sanctions waivers by the United States.

Hedge funds may have trimmed their record bet against U.S. Treasuries, as the latest data show, but the 10-year yield's spike to fresh multi-year highs in the days since suggests that short position will now be even greater.

The jury is still out on whether the 10-year U.S. Treasury yield's move above 3 percent is the historical break higher confirming the end of the 30-year bond bull market. The verdict from hedge funds, however, is unequivocal: it is.

Activist hedge fund TCI has cut its stake in London Stock Exchange Group Plc , less than a year after its push to oust the stock exchange's chairman failed.

Hedge funds are betting big against sterling, the most since May last year. And following last week's Brexit debacle in Salzburg, that bet will probably be even bigger now, closing in on the largest on record.

Finally, the market looks to be buying into the Fed's view on U.S. interest rates. And it's a long time since that's been the case.

British investor Martin Taylor, who closed his $1.5 billion (1.15 billion pounds) hedge fund Nevsky Capital and retired at 46, plans to get back in the market with a fresh perspective and a new firm.