Thu, Aug 25, 2016
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. Asia - LGT Capital Partners: Alternatives set for continued rise in Asia[more]

    From Asianinvestor.net: More flows are likely into insurance-linked strategies, private equity and trend-following strategies/CTAs, given the benefits of such investments, argues LGT Capital Partners. Despite the numerous quantitative easing programs and bailouts of recent years, the quest for

  2. LatAm hedge funds surge in 1H to +24.4%, emerging markets assets rise[more]

    Komfie Manalo, Opalesque Asia: Hedge funds investing in Latin America posted strong gains through mid-2016, reversing declines in four of the past five years, including the last three years, to lead all areas of hedge fund performance through the first half of 2016, according to the latest HFR Em

  3. Investors yank money from hedge funds after poor performance[more]

    From Marketwatch.com: A growing exodus from hedge funds extended to two of the biggest names in the industry Tuesday, Tudor Investment Corp. and Brevan Howard, as disenchanted investors increasingly shun what was once the hottest place to put money. The funds’ problem is clear: They just aren’t perf

  4. Banks look at hedge funds differently - and it should matter to allocators[more]

    From Valuewalk.com: Looking at two bank reports on the same topic can often yield interesting results. There are times when bank research is best viewed from the standpoint of how their analysis does or does not correlate with one another. Regarding hedge fund allocation decisions, one bank appears

  5. Legal - Hedge fund’s fixer kept deals flowing with bribes, U.S. says, Big four banks sued by U.S. hedge funds over BBSW, Lessons for hedge fund managers from the government's failed prosecution of alleged insider trading[more]

    Hedge fund’s fixer kept deals flowing with bribes, U.S. says From Bloomberg.com: With the Miami villa, stopovers at New York’s Plaza Hotel and millions channeled in bribes to win mining deals, Samuel Mebiame was the relationships guy in a corruption scheme that spanned continents, accord