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

Hedge funds outperform S&P in November, leverage ticks up - BAML

Tuesday, December 04, 2012

Bailey McCann, Opalesque Industry Update: The investable hedge fund composite index was up 0.13% for November as of November 28, compared to down 0.16% for the S&P 500, according to the latest data from Bank of America Merrill Lynch Global Research. Leverage also began to rise in October. As measured by NYSE Margin Debt, leverage rose 12.1% year-on-year (YOY) to $317.5bn in October, a sign that investors are becoming more confident in the market according to lead hedge fund analyst for Bank of America Merrill Lynch, Mary Ann Bartels.

In terms of strategies, Merger Arbitrage and Convertible Arbitrage are the best performers, up 0.51% and 0.44%, respectively; CTA Advisors performed the worst and was down 0.35%. Macros continued to unwind selling long positions in the S&P 500, NASDAQ 100, commodities and 10-year Treasuries, while partially covering their shorts in the dollar and emerging markets.

In commodities, corn moved back into a crowded long while funds sold soybean and were flat wheat. In metals, funds bought gold, silver, palladium & platinum, and maintained their shorts in copper. In energy, funds bought heating oil & gasoline, sold crude, and added to their shorts in natural gas. The Euro is in a crowded short, and the Yen is approaching a crowded short, funds continue to buy the US Doll......................

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. People - Nectar Financial hires senior investment team, Texas A&M replaces retiring foundation investment chief, Ex-Cadwalader partner Woolery makes another sudden exit, How to become a Python coder at a top hedge fund, by the co-CTO of Man AHL[more]

    Nectar Financial hires senior investment team Nectar Financial AG, a Swiss financial technology company for wealth and asset management, has announced that it has hired two key senior leaders to spearhead its digital asset management efforts. The company also announced that it has entere

  2. Activist News - Cognizant has introductory discussion with activist investor Elliott; to review letter, Starboard Value makes huge investment in Hewlett Packard, Hedge fund calls for removal of First NBC Bank CEO[more]

    Cognizant has introductory discussion with activist investor Elliott; to review letter From Indiatimes.com: Cognizant said it had an introductory discussion with Elliott Management after receiving the activist hedge fund's letter asking for a board shakeup, a buyback, a dividend and chan

  3. Opalesque Exclusive: Ireland relaxes treatment of direct lending funds[more]

    Bailey McCann, Opalesque New York: The Irish Central Bank has relaxed its treatment of direct lending funds, according to a recently released

  4. M&A - AllianzGI to acquire Sound Harbor Partners, SS&C completes acquisition of Wells Fargo's Global Fund Services business[more]

    AllianzGI to acquire Sound Harbor Partners Allianz Global Investors (AllianzGI), an active investment manager, announced that Sound Harbor Partners, a US private credit manager led by Michael Zupon and Dean Criares, have agreed to join its fast-growing Private Debt Platform. Under the te

  5. Hedge funds gain on Trump market rally, positive U.S. data[more]

    Komfie Manalo, Opalesque Asia: Hedge funds enjoyed meaningful returns in the week ending November 22, with the Lyxor Hedge Fund Index moving up 0.7% over the period (-1.6% YTD). From a broad perspective, all strategies ended the week on a positive note except for CTAs that ended flat. Event d