Sat, Aug 30, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Bank of America Merrill Lynch reports hedge fund performance flat

Wednesday, August 08, 2012

Beverly Chandler, Opalesque London: Bank of America Merrill Lynch research reveals that hedge funds were flat last week with long/short equity up the most with performance of 0.52% and the CTAs performing the worst, down 0.71%. The whole investable hedge fund composite index was up 0.06% as of August 1st.

Mary Ann Bartels, head of technical analysis, reports that the bank’s models indicate that Market Neutral funds market exposure fell to -2% from 5% net long while Equity Long/Short decreased market exposure to 24% from 26% net Long, remaining well below the 35-40% benchmark level. Bartels reports that Macros have gone long small cap and move flat commodities. "They remain short S&P 500, NASDAQ 100, 10-year Treasuries and EAFE. EM exposure is increased sharply and USD remains long" she writes.

CFTC data revealed significant hedge fund moves across the asset classes, Bartels reports. In equities, large specs sharply covered the S&P 500 and aggressively bought NASDAQ 100. They covered Russell 2000. In Agriculture, large specs bought corn and sold soybeans and wheat. Soybean stayed in a crowded net long; wheat remains in a crowded long and has the highest net long position since 2004. In Metals, large specs bought gold, silver, platinum and palladium. Gold and palladium positions are into the buy zo......................

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. Study shows what resonates with investors: 'Unwavering', 'passionate' beats 'committed', 'dedicated' and more surprises[more]

    Komfie Manalo, Opalesque Asia: A new study by Pershing Square, a unit of BNY Mellon company, showed that an effective value proposition strengthens audience connections and fosters growth, yet many advisors have had little objective guidance in formulating such statements until now. In the

  2. Comment – Why you should avoid the hottest hedge fund hands, Swedroe attacks Hussman over risk management, relative value strategy[more]

    Why you should avoid the hottest hedge fund hands FromCNBC/Yahoo.com: Investors who don't have money with Pershing Square Capital Management are likely salivating at the hedge fund's industry-leading 26 percent return from January through July. But investing with Bill Ackman and other to

  3. Hedge fund assets decline in July - eVestment[more]

    Bailey McCann, Opalesque New York: Total assets in hedge funds declined in July and dropped 0.49%, marking the industry's second monthly asset decline in 2014, according to the latest asset flows data from eVestment. Despite the asset decline, total industry AUM remained above the $3 trillion

  4. AIMA makes 'the case for hedge funds'[more]

    Bailey McCann, Opalesque New York: The Alternative Investment Management Association (AIMA), the global hedge fund industry body,

  5. Managed futures' global diversification is important in next phase of economic recovery[more]

    Komfie Manalo, Opalesque Asia: The global diversification provided by managed futures may prove to be extremely valuable as the markets enter the next phase of the economic recovery, said Campbell & Company, a pioneer in absolute return invest