Sun, Feb 19, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Hedge funds take on defensive positions

Wednesday, July 18, 2012

Bailey McCann, Opalesque, New York: Macro hedge funds are taking on defensive positions according to a new report from Bank of America Merrill Lynch Global Research. Macros are maintaining their preference for large-cap,and adding to their shorts in the S&P 500 and NASDAQ 100, partially covered commodities and 10-year Treasuries. According to Mary Ann Bartels, lead hedge fund analyst for Bank of America Merrill Lynch, Market Neutral funds bought market exposure to 4% from 3% net long. Equity Long/Short maintained market exposure at 23% net long, well below the 35-40% benchmark level.

The investable hedge fund composite index was up 0.29% last week (as of July 11), compared to down 2.37% for the S&P 500. CTAs and Macros had the best week, Equity Long/Short performed the worst. According to BofA's models, Equity Long/Short funds have reduced their large cap and quality tilt.

In Commodities, funds continued to buy soybean, corn and wheat while selling out of gold, silver and covering shorts in copper. In Currencies, funds added to their shorts of the Euro, while beginning to buy the US Dollar again. Notably, funds doubled their notional Yen positions to $1.4bn notional from $0.7bn notional last week.

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

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. With $54bn in assets, Philippines is ready for hedge funds, alternative investment products[more]

    Komfie Manalo, Opalesque Asia: With the country's outstanding fund management industry at $54bn and growing, the Philippine market and its investors are ready to invest in "more sophisticated" asset management products, like hedge funds and alternative investments, said Deanno J. Basas, presi

  2. SoftBank to buy Fortress Investment for $3.3bn[more]

    From Reuters.com: Japan's SoftBank Group Corp on Wednesday said it has agreed to buy Fortress Investment Group LLC for about $3.3 billion, looking to add investment expertise as it prepares to launch the world's largest private equity fund. The all-cash deal is SoftBank's first major investmen

  3. ...And Finally - Truth in advertising[more]

    From Newsoftheweird.com: Girl Scout Charlotte McCourt, 11, of South Orange, New Jersey, saw her sales zoom recently when she posted "brutally honest" reviews of the Scouts' cookies she was selling -- giving none of them a "10" and labeling some with dour descriptions. She was hoping to sell

  4. Europe - Brexit - Updated legal guide, Euro exchange rates set to tumble as hedge fund's super computer predicts Marine Le Pen will be next French president, Swiss fund market hits all-time high[more]

    Brexit - Updated legal guide From Herbertsmithfreehills.com: When we began analysing in depth the possibility of Britain exiting the EU (Brexit), 18 months prior to the June 2016 referendum, the business consensus was very much that Brexit was a remote prospect that either would never hap

  5. People - Gramercy appoints Bradshaw McKee as managing director of Capital Solutions, Trump taps Cerberus's Feinberg to lead intelligence review[more]

    Gramercy appoints Bradshaw McKee as managing director of Capital Solutions Gramercy Funds Management LLC, a $5.8 billion dedicated emerging markets investment manager, today announced the appointment of Bradshaw McKee to the position of Managing Director, Capital Solutions and Distressed