Mon, May 2, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Hedge funds up in the first half, still lag S&P

Wednesday, July 11, 2012

Bailey McCann, Opalesque New York: Hedge funds were up 1.26% in the first half of this year but still trail th S&P 500 according to a new report from Bank of America Merrill Lynch Global Research. The global diversified hedge fund composite index was up 1.26% for the first half of 2012, underperforming the S&P 500’s 8.31%. Convertible Arbitrage was the best performing strategy up 4.14%, while Short Bias was the worst down 7.11%.

Market Neutral funds bought market exposure to 3% net long from 1% net short, reversing the aggressive selling in June. Equity Long/Short maintained market exposure at 23% net long, well below the 35-40% benchmark level. Leverage, as measured by NYSE Margin Debt, declined further by 11.5% year-on-year (YOY) to $279.2bn in May. This marks the 7th consecutive month of negative YOY growth since the momentum indicator fell below zero last November.

In June, funds continued to short S&P 500 futures while buying NASDAQ 100 futures. Commodities buying is also on the rise, with funds buying soybean, corn, and wheat. They also bought gold and silver while covering shorts in copper. In currencies, funds are holding steady on the Yen, covering Euro shorts and selling out of the US Dollar.

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

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. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  3. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  4. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the

  5. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n