Sat, Dec 20, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Gold positions by the hedge funds lowest since 2002

Wednesday, July 17, 2013

Bailey McCann, Opalesque New York:

Speculative shorts in Gold (non-reportable on a contract basis) are their largest ever, according to new data from Bank of America Global Research. Positioning in gold is at the lowest since 2002, reflecting a trend that has been going since the end of June. Gold broke through the psychological low of 1200 earlier in July. Gold remains in a contrarian buy zone.

"Indeed, the closing break of 1270 points to a near term base and positioning led squeeze higher, which is also confirmed by the extreme readings in the weekly ADX (the indicator has reached levels that have consistently coincided with previous turns in trend). Upside targets are seen to $1320/$1360 and potentially as far as 1452/53," the report says of the trend.

Funds have also sold corn to a net short for the first time since 2005. 10-year treasuries have been solt to a net short for the first time since May.

The Investable Hedge Fund Composite Index was up 0.67% for the month as of July 10, underperforming the S&P 500 index’s price return of 2.88% for the same period. In terms of strategies, Equity Long Short and Event Driven performed the best, up 1.39% and 1.21%, respectively. Equity Market Neutral performed the worst, falling 0.40%.

In terms of positions, Market Neutral funds reduced market exposure to 12% net long from 14% net long. Equity Long/Short kept market exposure steady at 37% net long; in line with the 35-40% benchmark level. Macro funds reduce......................

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 - Big hedge funds win again on PetSmart, Riverbed, RBS sells real estate loans to hedge fund Cerberus, Talisman energy speculation: Which hedge funds could benefit?[more]

    Big hedge funds win again on PetSmart, Riverbed From CNBC.com: Another week, another set of wins for activist investors. On Sunday, pet supply retailer PetSmart agreed to the largest leveraged buyout of the year at $8.7 billion. Hedge fund firm JANA Partners had been pushing for a sale a

  2. Outlook - Hedge fund manager who remembers 1998 rout says prepare for pain, Bond guru Bill Gross predicts U.S. economic growth to dip to 2%[more]

    Hedge fund manager who remembers 1998 rout says prepare for pain From Bloomberg.com: Stephen Jen landed in Hong Kong in early January 1997 as Morgan Stanley’s newly minted exchange-rate strategist for Asia. He was soon working around the clock when investors began targeting the region’s

  3. Investing - Hedge funds get boost from healthcare in 2014, Paulson & Co takes stake in Salix on heels of inventory issues[more]

    Hedge funds get boost from healthcare in 2014 From Valuewalk.com: The healthcare sector started the year on a turbulent note, as stocks of many major biotechnology companies were battered. However, most of the players in this sector have bounced back. The BarclayHedge Healthcare & Biotec

  4. Comment - High fees and low performance hit hedge funds[more]

    From FT.com: Disenchantment over high fees and lackluster performance may finally be turning the tide against hedge funds, fresh data suggest. Despite generally weak returns since the global financial crisis, hedge funds have enjoyed positive net inflows every year since 2010. This helped assets und

  5. Performance - Lansdowne, Man Group, other hedge funds profit from shorts in oil, Turmoil boosts hedge funds that bet against Russia, oil, CTAs post strongest returns since December 2010[more]

    Lansdowne, Man Group, other hedge funds profit from shorts in oil From Valuewalk.com: The rising short interest in oil companies implies that the worst for oil is yet to come. Data from Markit shows that short exposure in energy sector of S&P 500 is still looming close to the highest mar