Thu, Nov 27, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

BofA Merrill Lynch’s investable hedge fund index up 0.93% month to date, 4.54% year to date

Wednesday, May 15, 2013

Beverly Chandler, Opalesque London: The latest Hedge Fund Monitor from Bank of America Merrill Lynch finds that macros are currently net long EAFE while short US equities. Stephen Suttmeier, Chief Equity Technical Strategist reported that the investable hedge fund composite index was up 0.93% month-to-date as of May 8, compared with a price return of 2.20% for the S&P 500 index, and had a year to date figure of 4.54%.

Key takeaways from the report include:

  • Hedge funds had a good start in May, rising 0.93% in the first week, but still underperformed S&P 500’s 2.20% advance.
  • Macro hedge funds aggressively bought EAFE exposures to near the 2012 high, while staying net short of the S&P 500 and NASDAQ 100.
  • Large speculators aggressively sold 30-year and 10-year Treasuries out of a crowded long. With Yen breaking above 100 for the first time in four years, large speculators have sizable net short positions in Yen.
In terms of performance, Convertible Arbitrage and Event Driven performed the best, up 1.29% and 1.19%, respectively. Market Neutral performed the worst and was down 0.42%.

In terms of hedge fund positioning by major strategies, BofA Merrill Lynch’s models indicate that Market Neutral funds increased market exposure to 11% from 10% net long. E......................

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. Investing - George Soros puts $500m of his money on Bill Gross, Soros, Paulson backed Hispania Activos mulls Realia takeover, Ex-Credit Suisse trader’s hedge fund sees yen shorts as crowded, Hedge hunters double default-swaps as views split, Large hedge fund positions come under pressure, Vikram Pandit's fund picks 50% stake in JM Financial's realty lending arm for $87m[more]

    George Soros puts $500m of his money on Bill Gross From WSJ.com: Before Bill Gross was fully settled in at his new firm, Janus Capital Group Inc., he received an unlikely visit from the chief investment officer of famed investor George Soros ’s firm, according to a person familiar with t

  2. Unlucky Paulson & Co. rebrands $1.6bn Recovery Fund after 13% drop[more]

    From Businessweek.com: A maturing U.S. economic recovery is prompting Paulson & Co. to change course. The $19 billion hedge fund firm, led by billionaire John Paulson, told investors on a conference call this month that the Paulson Recovery Fund will be renamed Paulson Special Situations Fund on Jan

  3. Europe - Hedge funds face exit tax as Iceland central bank discusses plan[more]

    From Bloomberg.com: Hedge funds and other creditors with claims against Iceland’s failed banks face an exit tax as the island looks for ways to unwind capital controls without hurting the economy. The government targets having a plan it can present by year-end that would map out how Iceland will sca

  4. Opalesque Exclusive: Risk management emerges as a competitive focus area for hedge funds[more]

    Bailey McCann, Opalesque New York: Risk management has always been a core component of any trading strategy, as well as a critical part of business management. However, as macreconomic weakness persists, and alpha becomes increasingly hard to generate, risk management as emerged as a more promin

  5. Gross: Inflation is required to pay for prior inflation[more]

    Benedicte Gravrand, Opalesque Geneva: As inflation rises, every dollar will buy a smaller percentage of a good. While deflation will mean a decrease in the general price level of goods and services. These two economic conditions are both in the waiting room. The consensus would like the former to