Sun, Dec 17, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Hedge funds down 0.22% after rocky October, continue equities sell off - BAML

Tuesday, October 30, 2012

Bailey McCann, Opalesque New York: Early October data from Bank of America Merrill Lynch shows that hedge funds are down slightly for October and are continuing their heavy sell off of US equities. According to data in the report, COT Eurodollar positioning is an unexpected leading indicator for the equity market - leading the S&P 500 by one year with a correlation of 72% since the beginning of 2000 and 74% since 2007. The indicator peaked in late November last year – a risk that the S&P 500 could face the start of a correction near year-end of 2012.

The investable hedge fund composite index was down 0.45% month-to-date as of October 24, outperforming the S&P 500’s -2.22%. In terms of strategies, Long/Short was the best performer, up 0.28%; CTA Advisors performed the worst and was down 3.28%. Long/Short Equity is selling out of the NASDAQ 100 and relaxing its quality tilt focusing more strongly on value as funds hunt for returns. By way of contrast, Macros added to their risk assets buying S&P 500, NASDAQ 100, commodities and 10-year Treasuries, while adding to their shorts in the USD.

Commodities continue to see inflows with funds buying soybean, corn and wheat, although they are selling metals gold, silver and copper. Commodities buyers are also selling out of crude and heating oil, and main......................

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. Mediobanca acquires majority stakes in Swiss hedge fund[more]

    Komfie Manalo, Opalesque Asia: Listed diversified banking group Mediobanca SpA said it has acquired a majority stake in Geneva-based hedge fund firm RAM Active Investments SA (RAM AI), an active and alternative asset manager offering a range of act

  2. Launches - Ex-BlueCrest team to open over $200m hedge fund, Greg Coffey, a hedge fund star who retired at 41, is eyeing a comeback, Brevan Howard plans Greek funds as bond rally signals revival[more]

    Ex-BlueCrest team to open over $200m hedge fund From Bloomberg.com: A team of traders who left BlueCrest Capital Management earlier this year raised more than $200 million for their own hedge fund focused on Asian stocks, according to a person familiar with the matter. Ovata Capital Manag

  3. North America - Miami could attract hedge funds if SALT deductions axed[more]

    From Law360.com: For years, inertia has been Nitin Motwani's greatest foe in his attempts to lure hedge fund owners in the northeast to Miami, which he has pitched as a tropical low-tax paradise. But with the Republican tax bill proposing to eliminate deductions for state and local taxes, he's sensi

  4. Northleaf Capital Partners closes debut private credit fund on $670M[more]

    Bailey McCann, Opalesque New York: Northleaf Capital Partners has closed its debut private credit fund - Northleaf Private Credit I - on $670 million. The vehicle will invest in private credit transactions in Europe and North America, with a primary focus on lending to private equity-backed compa

  5. ...And Finally - The ongoing gun saga in the U.S.[more]

    From Newsoftheweird.com: As elder members of the First United Methodist Church in Tellico Plains, Tennessee, gathered on Nov. 16 to discuss the recent church shooting in Sutherland Springs, Texas, one of those present asked if anyone had brought a gun to church. One man spoke up and said he c