Mon, Dec 5, 2016
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. M&A - AllianzGI to acquire Sound Harbor Partners, SS&C completes acquisition of Wells Fargo's Global Fund Services business[more]

    AllianzGI to acquire Sound Harbor Partners Allianz Global Investors (AllianzGI), an active investment manager, announced that Sound Harbor Partners, a US private credit manager led by Michael Zupon and Dean Criares, have agreed to join its fast-growing Private Debt Platform. Under the te

  2. Europe - UK investors to pay more tax on money in offshore funds, Do you want to hand your money to super-algo or a Swiss banker?[more]

    UK investors to pay more tax on money in offshore funds From FT.com: Hedge funds in Dublin and Luxembourg are set to be hit by new rules that will force UK investors to pay more tax on the money they hold in offshore funds. As part of the government’s Autumn Statement on the country’s fi

  3. Hunt for yield pushes more investors into riskier assets[more]

    From FT.com: Pension funds and insurance companies have increasingly embraced riskier assets in their hunt for higher returns over the past five years. Alternative assets such as property, infrastructure, private equity and hedge funds have been bought up by institutional investors in a world where

  4. People - Nectar Financial hires senior investment team, Texas A&M replaces retiring foundation investment chief, Ex-Cadwalader partner Woolery makes another sudden exit, How to become a Python coder at a top hedge fund, by the co-CTO of Man AHL[more]

    Nectar Financial hires senior investment team Nectar Financial AG, a Swiss financial technology company for wealth and asset management, has announced that it has hired two key senior leaders to spearhead its digital asset management efforts. The company also announced that it has entere

  5. Activist News - Cognizant has introductory discussion with activist investor Elliott; to review letter, Starboard Value makes huge investment in Hewlett Packard, Hedge fund calls for removal of First NBC Bank CEO[more]

    Cognizant has introductory discussion with activist investor Elliott; to review letter From Indiatimes.com: Cognizant said it had an introductory discussion with Elliott Management after receiving the activist hedge fund's letter asking for a board shakeup, a buyback, a dividend and chan