Thu, Jul 28, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Hedge funds crowd crude, downside risk lingers

Tuesday, June 05, 2012

Bailey McCann, Opalesque, New York: Hedge funds have started selling off their long positions in crude oil, however downside risk remains should funds opt to unwind those positions according to a new report from BofA Merrill Lynch Global Research. Writing in the report, lead hedge fund analyst Mary Ann Bartels writes that funds are also selling out of heading oil and gasoline while covering their positions in natural gas.

The investable hedge fund composite index was down 1.09% month-to-date (MTD) as of May 30, compared to down 6.05% for the S&P 500. CTA Advisors and Macro strategies performed the best and were the only two strategies with positive returns, up 2.29% and 0.35% MTD, respectively. Long/Short performed the worst, down 3.03%. Market Neutral funds bought market exposure to 17% net long – the highest since October 11. Equity Long/Short bought market exposure to 43% - above the 35-40% benchmark level for the first time since last June.

In commodities, funds continue to sell out of precious metals, pushing gold into the buy zone. Funds sold corn and soybean, but bought wheat to a net long for the first time since last June. In currencies, funds continued to buy up the US Dollar and Yen while adding to their shorts in the Euro, maintaining a months long short position.

......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: California-based manager launches long/short equity hedge fund with unique algorithm[more]

    Benedicte Gravrand, Opalesque London for New Managers: SJL Capital LLC, an investment advisory firm based in California, has launched its maiden fund, the SJL MarketDNA Hedge Fund LP. The fund, which began trading

  2. Manny Roman to move from Man to Pimco[more]

    Benedicte Gravrand, Opalesque London: Emmanuel (Manny) Roman, an investment world veteran, has been hired by PIMCO, the large US bond fund house, as chief executive officer. PIMCO's current CEO Douglas Hodge will assume a new role as managing director and senior advisor when Roman joins P

  3. HFR: Hedge funds post strong gains in mid-July as markets recover from Brexit losses[more]

    Komfie Manalo, Opalesque Asia: Hedge funds posted strong gains through mid-July as the equity markets continued the recovery from Brexit losses. The HFRX Market Directional Index gained +2.17% (+4.22% YTD) and the HFRX Global Hedge Fund Index gained +1.03% through mid-month (+0.19%

  4. News Briefs - Carlyle goes on trial for a financial-crisis meltdown, Private equity and venture capital outperformed public markets in 2015, Pippa Middleton gets engaged to hedge fund manager James Matthews[more]

    Carlyle goes on trial for a financial-crisis meltdown Carlyle Group co-founder Bill Conway was in court on this small island last week recounting one of the most bruising episodes in his private-equity firm’s history: the 2008 collapse of mortgage-bond fund Carlyle Capital Corp. Carlyle

  5. …And Finally - Two men fall off cliff playing Pokemon Go[more]

    From BizarreNews.com: Two men who fell from a seaside cliff north of San Diego told authorities they became distracted while playing augmented reality game Pokemon Go. Encinitas fire Battalion Chief Robbie Ford said one of the men fell about 50 feet down the bluff in Encinitas while the other man fe