Mon, Jan 16, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

S&P 500 moves into a crowded long as hedge funds dial up their appetite for the index

Tuesday, August 06, 2013

Bailey McCann, Opalesque New York:

Hedge funds are pushing the S&P 500 to a crowded long, with the possible exception of macro funds which have sold their positions in the S&P to a net short for the first time since May, according to the latest hedge fund monitor data from Bank of America Merrill Lynch Global Research. Macros also reduced their long positions in the Nasdaq 100. Market Neutral funds raised market exposure to 5% net long from 5% net short. Equity Long/Short slightly reduced market exposure to 38% from 39% net long; in line with the 35-40% benchmark level.

Funds also aggressively bought 10-year Treasuries (as of July 30th) and remain near all time record longs in WTI crude. Corn shorts are their largest in almost 8 years.

The Investable Hedge Fund Composite Index was up 1.02% for the month of July, underperforming the S&P 500 index’s price return of 4.95%. In terms of strategies, Equity Long Short and Event Driven performed the best, up 2.57% and 1.68%, respectively. Macros performed the worst, falling 0.54%.

In currencies, the Yen remains in a crowded long. Funds sold some of their positions in the US Dollar index, and covered Euro shorts.

Both Long/Short and Market Neutral strategies have 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. Southpoint Capital gains 3.8% in Q3, bringing year-to-date returns to 5.2%[more]

    From Valuewalk.com: Southpoint Capital Advisors, the $3 billion New York hedge fund founded by former employees of David Einhorn’s Greenlight Capital, added 3.8% net during the third quarter of 2016, bringing year-to-date returns to 5.2% and cumulative returns since inception (July 2004) of 237.4% a

  2. The Big Picture: The case for emerging market debt in 2017[more]

    Benedicte Gravrand, Opalesque Geneva: Emerging market (EM) assets outperformed in 2016 mainly because of stronger fundamentals and an improving international environment, with GDP picking up speed, leading to positive earnings revisions for the first time in five years,

  3. Amplitude's Klassic CTA up 29% in 2016[more]

    Benedicte Gravrand, Opalesque Geneva: Swiss CTA manager Amplitude Capital can boast outperformance for one of its short-term trading strategies. The Klassik strategy, which trades equities, FX, fixed income and commodities, returned 29.39% in

  4. Hedge funds gain across strategies in December, outperform MSCI to close at record index level in 2016[more]

    Komfie Manalo, Opalesque Asia: Hedge funds posted gains across all strategies in December to conclude 2016, with the HFRI Fund Weighted Composite Index (FWC) rising to a record index value level as oil prices surged, equities gained and U.S. interest rates increased into year end, accordin

  5. Performance - BlackRock's robot stock-pickers post record losses, Soros-backed fund Glen Point loses in first trading year, Regal Funds Management: Bleak year as returns in key funds plunge 25pc, Elm Ridge Capital up 25% in 2016[more]

    BlackRock's robot stock-pickers post record losses From Bloomberg.com: Like so many fund titans these days, Laurence D. Fink is betting on machines to turn around BlackRock Inc.'s beleaguered stock-picking business. Trouble is, they just might have made things worse. BlackRock