Wed, Mar 1, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Hedge funds turn bullish on EUR/USD

Tuesday, June 25, 2013

Bailey McCann, Opalesque New York: Hedge funds turn bullish on the Euro and the US Dollar as Asia trends to the downside. According to the latest research from Bank of America Merrill Lynch, both Market Neutral and Long/Short strategies bought market exposure last week, although Long/Short remains below the benchmark.

Macros have slightly reduced their long positions on both the S&P 500 and NASDAQ. Ahead of last week’s Fed meeting, Large speculators sold the USD index out of a crowded long and turned net long EURUSD. This is a return to February's net long on the Euro.

The Investable Hedge Fund Composite Index was down 1.03% for the month, as of June 19, worse than the S&P 500 index’s price return of down 11bps. In terms of strategies, Convertible Arbitrage & Merger Arbitrage performed the best, up 0.19% and down a mere 0.04%, respectively. The Managed Futures category performed the worst, falling 2.36%.

Equity Long/Short funds have increased their exposures to 23% net long from 18% reflecting a buy the dip bias as US markets trended downward toward the end of last week and appear to be maintaining that trend today. Both Market Neutral and Long Short strategies leaned further toward disinflationary expectations.

......................

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. Legal - Fannie, Freddie shares dive after U.S. appeals court ruling[more]

    From Reuters.com: Shares of Fannie Mae and Freddie Mac tumbled more than 30 percent on Tuesday after a U.S. appeals court shut down efforts by hedge funds and other investors to pursue numerous legal claims accusing the U.S. government of seizing their profits following taxpayer bailouts. By a

  2. Institutional investors plan to raise allocations to alternative assets in 2017[more]

    Komfie Manalo, Opalesque Asia: A survey by Context Summits Miami showed that nearly 72% of institutional investors and family offices plan to raise their allocations to alternative asset managers this year, suggesting continued strong demand for the industry. "As many large, brand name f

  3. Comment - Mortgages, mergers and hedge fund fees, Fairholme's Berkowitz responds to court ruling against hedge fund suits of Fannie Mae[more]

    Mortgages, mergers and hedge fund fees From Bloomberg.com: Yesterday the U.S. Court of Appeals for the D.C. Circuit handed down an odd decision in a lawsuit over the government's nationalization of Fannie Mae and Freddie Mac. The key issue is what's called the "Third Amendment," the 2012

  4. Investing - Hedge funds continue to chase the herd in record Momentum wager, Marshall Wace bets grocer Sainsbury may need rights offering, Hedge fund net exposure has started to retreat, David Tepper's Appaloosa fund makes a huge buy, The 10,000-mile journey to Short Australia, Skeptical hedge fund investors grill Evan Spiegel about Snap's I.P.O.[more]

    Hedge funds continue to chase the herd in record Momentum wager From Bloomberg.com: Hedge funds can't get enough of momentum - even if it means embracing an investing strategy they hate. Loosely defined as betting on shares that went up the fastest over the preceding nine-to-12 months, h

  5. 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