Thu, Aug 17, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Hedge fund reduce exposure to S&P, underperform index in October

Tuesday, November 05, 2013

Bailey McCann, Opalesque New York:

Hedge funds reduced their exposure to the S&P500 over the past week according to the latest research from Bank of America Merrill Lynch Global Research. October flash returns show hedge funds underperforming the S&P500 index for the month, reverting to a trend that dominated most of the first half of the year. Retuns for October are +1.18% compared to a price return of up 4.86% for the S&P500 index for the same period.

In terms of strategies, Equity Long Short and Event Driven performed the best, up 1.91% and 1.47% respectively. Convertible Arbitrage performed the worst. Market Neutral funds decreased exposure to 7% from 10% net long. Equity Long/Short also reduced market exposure to 23% from 30% net long; below the 35-40% benchmark level. Macros decreased their long exposure to S&P500 and NASDAQ.

The CFTC has resumed releasing position data through October 22,2013 following the US government shutdown. In commodities, funds sharply increased their long positions in Soybeans and increased shorts in corn and wheat. Wheat remains in a crowded short. In metals, funds sold gold and bought silver. In energy, funds bought WTI crude oil, heating oil and gasoline, and reduced their natural gas short.

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

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: Albright Capital puts a value lens on emerging markets[more]

    Bailey McCann, Opalesque New York: Over the past decade, investors have steadily increased investments in emerging markets private funds. Allocations to the cohort have increased from $93 billion in December 2006 to $564 billion in September 2016, according to data from research firm Preqin. Howe

  2. Other Voices: Crisis risk offset; about time?[more]

    This article was authored by Russell Barlow, global head of hedge fund solutions at London-based Aberdeen Asset Management. Like the ubiquitous force of gravity, when financial markets rise they must fall. The quest

  3. Comment: "Long-Term Investing": What managing drawdown risk can do to your long-term returns[more]

    Matthias Knab, Opalesque: Real Investment Advice writes on Harvest Exchange: Last week, I was having lunch with a prospective portfolio management client discussing the curre

  4. Jasper Capital International joins Hedge Fund Standards Board[more]

    Komfie Manalo, Opalesque Asia: Diversified and systematic investment firm Jasper Capital International has become the second China-based signatory to the Hedge Fund Standards Board (HFSB), an organization that brings hedge fund managers and investors together to set standards for the hedge fund i

  5. Investing - Hedge-fund honchos including David Tepper are loading up on Alibaba, Billionaire hedge fund manager Stanley Druckenmiller is betting big on the Chinese consumer, Big-name U.S. hedge funds shed healthcare stocks during the rally in second-quarter, U.S. hedge funds bearish on FAANG stocks in second-quarter, Hedge fund titan Viking Global made a $680 million bet on scandal-plagued Wells Fargo[more]

    Hedge-fund honchos including David Tepper are loading up on Alibaba From CNBC.com: David Tepper's Appaloosa Management and three other he ge funds took new stakes in Chinese e-commerce giant Alibaba in the second quarter, according to the latest quarterly filings. Appaloosa disclos