Sat, Jun 23, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Hedge fund returns positive in January, up +1.74% - still lagging S&P

Tuesday, February 05, 2013

Bailey McCann, Opalesque New York: Hedge funds were up overall in January 1.74%, however they still underperformed the S&P 500 which returned 5.04%, according to the latest report from Mary Ann Bartels, lead hedge fund analyst for Bank of America Merrill Lynch. Data shows that overall, Sharpe Ratios were poor for equity based funds in 2012, specifically for macros and managed futures.

In terms of strategies over the week, Event Driven & Long/Short performed the best, up 3.27% and 2.31%, respectively. Market Neutral performed the worst and was down 0.47% for the same period. Market Neutral funds sold market exposure to 5% from 2% net short. Equity Long/Short slightly bought market exposure to 23% from 22% net long, still below the 35-40% benchmark.

Macros are aggressively buying commodities, including soybean and corn as well as cutting their shorts on wheat by half. Funds sold gold into the buy zone, bought platinum & palladium to a crowded long, bought silver and flat copper. In energy, funds bought crude oil, heating oil and gasoline, and partially covered natural gas. In currencies, funds added to their positions in the US Dollar and Euro while continuing to short the Yen. Treasuries saw an aggressive sell out of futures. Funds sold 10-yr and 2-yr treasuries and added to their shorts in......................

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. Paper: The performance of stocks actively pitched by hedge funds[more]

    Using a novel dataset drawn from investment conferences from 2008 to 2013, I show that hedge funds take advantage of the publicity of these conferences to strategically release their book information to drive market demand. Specifically, hedge funds sell pitched stocks after the conferences to ta

  2. North America - US fundraising for special purpose acquisition vehicles hits record this year[more]

    From AFR.com: Special purpose acquisition vehicles (spacs) are hitting the US market at the fastest rate on record, attracting the likes of Goldman Sachs and hedge fund investor Daniel Loeb for the two largest such deals in 2018. Spacs have raised $US4.5bn so far in 2018, the largest amount fo

  3. Investing - Man Group and AQR try to take aim at private equity industry, Hedge funds poised to be winners in AT&T-Time Warner deal[more]

    Man Group and AQR try to take aim at private equity industry From FT.com: The popularity of private equity investments has prompted asset managers such as Man Group and AQR to devise strategies that aim to replicate PE returns but at a much lower cost to investors. Both companies a

  4. News Briefs: David Stemerman's hedge fund holdings shrank before his run for governor, nvestment manager TSW triggers succession plan, Alan Howard joins Peter Thiel investing in Cologne-based fintech startup[more]

    David Stemerman's hedge fund holdings shrank before his run for governor But the U.S. holdings of Stemerman's Greenwich hedge fund, Conatus Capital, shrank from $2.6 billion at the apex to just over $1 billion before he announced his move into politics. (Hartford Courant) Inv

  5. British Empire: Pershing's 23% discount 'unsustainable'[more]

    From Citywire: The wide discount on Pershing Square Holdings (PSH) is 'unsustainable' and puts star hedge fund manager Bill Ackman under pressure, says British Empire (BTEM). Pershing is the third largest holding in the £850 million British Empire trust, managed by Joe Bauernfreund, which sp