Sat, Feb 25, 2017
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. Opalesque Exclusive: Swiss investors take fund seeding and acceleration into their own hands[more]

    Benedicte Gravrand, Opalesque Geneva: Banque Bonhote, a 200-year old Swiss private bank, last year launched a community of investors - heads of Swiss family and advisory offices and wealth managers - with the aim of co-investing in the kind of managers they wanted to invest in, either by way of s

  2. K2 Advisors : Why We Like Activist Hedge Fund Strategies and Some Thoughts on Alpha[more]

    Matthias Knab, Opalesque: Rob Christian, Senior Managing Director, Head of Research K2 Advisors, Franklin Templeton Solutions, writes on Harvest Exchange: When d

  3. Ex-Navy SEAL backed by Mario Gabelli, Jean-Marie Eveillard and other value giants off to strong start[more]

    From Valuewalk.com: Sententia Capital Management is not your average value focused hedge fund. The fund was founded by Michael Zapata, a former Navy Seal Team 6 Officer and has attracted funding from some of the best-known names in the value space. Mario Gabelli, Jean-Marie Eveillard from First Eagl

  4. Europe - 1 trillion euro non-performing loans are clogging EU lending channels[more]

    From Centralbanking.com: As much as 1 trillion euro of non-performing loans (NPLs) are still clogging the lending channel in the European Union. An EU asset management company (AMC) could address market failures in the secondary market for NPLs as part of a suite of measures designed to tackle the b

  5. Investing - Hedge funds' novel approach: investing for longer at lower returns, U.S. hedge fund Delta Partners lifts stake in Bellamy's, Hedge funds stockpile cobalt, electric carmakers on battery alert, Facebook is racking up the likes among the world's biggest hedge funds, Einhorn affirms gold on Trump uncertainty[more]

    Hedge funds' novel approach: investing for longer at lower returns From FNLondon.com: Hedge funds are known for making short-term bets, dipping quickly in and out of markets to take advantage of swings in prices. But, under pressure to innovate, some big-name managers are looking at ways