Sun, Jul 23, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

BofAML’s composite index returns 1.45% month to date, 5.08% year to date

Wednesday, May 29, 2013

Beverly Chandler, Opalesque London: Bank of America Merrill Lynch’s report this week finds that:

  • Market Neutral and Long/Short strategies notably reduced equity market exposure.
  • Macro hedge funds sold the US Dollar index to a net short for the first time since March 2013.
  • Large speculators sold wheat and Euro into a crowded short, but bought crude oil into a crowded long.

The investable HF composite was up 1.45% month to date, with a year to date return of 5.08% against a 3.62% return for the S&P 500 index. Convertible Arbitrage and Event Driven performed the best, up 2.80% and 2.13%, respectively, putting Convertible Arbitrage in the position of top performer year to date with a return of 8.93%. Market Neutral performed the worst and was down 0.67%.

Looking at hedge fund positioning by major strategies, BofAML reports that its models indicate that Market Neutral funds aggressively reduced market exposure to 6% from 16% net long. The firm found that equity long/short funds reduced market exposure to 32% from 41% net long; below the 35-40% benchmark level. BofAML says that macros funds partially covered their shorts in the S&P 500, NASDAQ 100, commodities and T-notes, reduced their net long positions in EM and EAFE, w......................

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. Little-known cryptocurrency hedge fund seeks $200m in SEC filing[more]

    From Coindesk.com: A little-known, newly established hedge fund is seeking to raise $200m to invest in cryptocurrencies, according to regulatory filings. The bid by Cryptocurrency Fund LP to raise the money was revealed in a Form D submission to the US Securities and Exchange Commission (SEC), dated

  2. FinTech - Bitcoin hedge fund director: ICOs are having a 'eureka' moment, Big data and analytics: Not just for quants anymore, Data breach of a single firm impacts systematic risk (and cost of capital) for the firm's entire sector[more]

    Bitcoin hedge fund director: ICOs are having a 'eureka' moment From Coindesk.com: The director of one of the first bitcoin hedge funds offered praise for initial coin offerings (ICOs) today, arguing in an investor note that the novel fundraising method is already showing signs of

  3. Already above average, Singapore high-networth investors add hedge funds and alternative investments[more]

    Komfie Manalo, Opalesque Asia: An above-average proportion of Singaporean HNW wealth is allocated to alternative investments - the majority of which is held in hedge funds, according to the latest research by ReportLinker. In its report entitled, Wealth in Singapore: HNW Investors 2017

  4. Launches - Crypto boom: 15 new hedge funds want in on 84,000% returns, Crypto madness is striking VCs as Union Square analyst leaves to start new fund[more]

    Crypto boom: 15 new hedge funds want in on 84,000% returns From Forbes.com: With 43 projects raising $1.2 billion in initial coin offerings since May 1, according to Nick Tomaino's The Control, and with stratospheric returns for so many ICOs -- 82,000% for Ethereum, 56,000% for IOTA, 44,

  5. FinTech - The machines are coming... Elon Musk's grim warning, Tezos' $232 million ICO may just be the beginning, A gentle introduction to Initial Coin Offerings (ICOs), Billion dollar tokens, ICOS & crazy market swings WTF is going on!?, How AI is changing the way we invest, How the tech revolution is bringing flip-flops and beanbags to Wall Street, A 'machine-learning' approach to venture capital[more]

    The machines are coming... Elon Musk's grim warning From Tenplay.com.au: Tesla chief Elon Musk has called on US Governors to take 'decisive' action to curtail "the greatest risk we face as a civilization": Artificial Intelligence, or AI. Speaking at a meeting of the National Governor Ass