Wed, Jul 27, 2016
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. Opalesque Exclusive: California-based manager launches long/short equity hedge fund with unique algorithm[more]

    Benedicte Gravrand, Opalesque London for New Managers: SJL Capital LLC, an investment advisory firm based in California, has launched its maiden fund, the SJL MarketDNA Hedge Fund LP. The fund, which began trading

  2. Manny Roman to move from Man to Pimco[more]

    Benedicte Gravrand, Opalesque London: Emmanuel (Manny) Roman, an investment world veteran, has been hired by PIMCO, the large US bond fund house, as chief executive officer. PIMCO's current CEO Douglas Hodge will assume a new role as managing director and senior advisor when Roman joins P

  3. Opalesque Exclusive: ArbitrOption outperforms benchmarks, up 7.18% in H1[more]

    Komfie Manalo, Opalesque Asia: Independent registered advisor ArbitrOption breezed through the tumultuous Brexit referendum and outperformed its benchmarks. ArbitrOption was up 7.18% in the first half of 2016 compared to the S&P 500 which gain

  4. Europe - European hedge funds shrink and shutter as turmoil hurts returns, Investors go bargain-hunting for U.K. property after Brexit vote, Brexit: Guidance for fund directors - what to know and what to ask[more]

    European hedge funds shrink and shutter as turmoil hurts returns From Bloomberg.com: Europe’s hedge-fund industry contracted for a sixth straight quarter as the U.K.’s decision to leave the European Union and concerns that China’s growth is slowing caused losses and forced some money man

  5. Platinum Partners starts liquidation of hedge funds following municipal union kickback scandal[more]

    Komfie Manalo, Opalesque Asia: Platinum Partners, the hedge fund in the middle of a New York City municipal union kickback investigation, is reported to be liquidating two of its funds, the New