Tue, Feb 21, 2017
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. People - Kuwait wealth fund head Al Saad said to step down after 14 years[more]

    From Bloomberg.com: Kuwait Investment Authority is set to name Farouk Bastaki as managing director, replacing Bader Al Saad who ran the world's fifth-largest sovereign wealth fund for 14 years, a person familiar with the matter said. The KIA, as the fund is known, is finalizing the appointment, said

  2. Manager Profile - Eddie Lampert: a painful entanglement with Sears[more]

    From Moneyweek.com: "In the long run we are all dead." Lex in the Financial Times reached for the famous quote from John Maynard Keynes in January when, after a long and unforgiving decline, the clock finally appeared to be running out on Sears, the iconic US department store group. Yet the group's

  3. Investing - Hedge funds quit Aberdeen shorts as shares begin to recover, Hedge funds' next big short: U.S. malls, O'Connor fund owns 9.5% of Protalix Biotherapeutics, U.S. hedge fund takes position in Macau hotel The 13[more]

    Hedge funds quit Aberdeen shorts as shares begin to recover From Investmentweek.co.uk: The last two hedge funds to short Aberdeen Asset Management have removed their positions, as the fund group's shares begin to show signs of recovery after a difficult few years. According to the Financ

  4. Latin America, high yields and Asia Pacific strategies dominate hedge fund returns in January[more]

    Komfie Manalo, Opalesque Asia: Latin America (+7.04%), high yield (5.63%), and Asia-Pacific (+5.06%) strategies dominated hedge fund performance in January, data provider Hennesee Fund Research said. The bottom three strategies for the mont

  5. Investing - Hedge funds loading up on this dividend stock, The biggest hedge funds have been piling into bank stocks[more]

    Hedge funds loading up on this dividend stock From Incomeinvestors.com: Hedge funds are backing up the truck on Cameco Corp stock. Billionaire Jim Simons owns 389,000 shares. Other Wall Street titans - including Ray Dalio, Ken Griffin, and Chuck Royce - have been quietly building positio