Sat, May 28, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Funds continue to cover S&P 500 shorts - BAML

Tuesday, March 04, 2014

Bailey McCann, Opalesque New York:

Hedge funds are the least short they've been on 10-year notes in six months and have also taken steps to cover short positions on the S&P500 according to the latest research from Bank of America Merrill Lynch. The Diversified Investible Hedge Fund Composite Index is up 1.27% till February 26 versus S&P500 which is up 3.75% during the same period.

In terms of strategies, Equity Long Short performed the best, up 2.05%. Macro funds performed the worst, down 0.75% for the same period. Models indicate that Market Neutral funds increased market exposure to 11%. net long from 9% net long. Equity Long/Short market exposure decreased to 27% net long from 37% net long; below the 35-40% benchmark level. Macros funds reduced their long exposure to S&P500 and now have short exposure to NASDAQ from having short exposure.

On position data, funds increased their long positions in Soybean and Corn. They also increased their long exposure in Wheat futures. For metals funds added to Gold, Silver and Platinum long exposure. They also decreased their short position in Copper. In energy, funds decreased Crude longs. They marginally decreased their short exposure in Natural Gas while increasing Heating Oil long position.

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

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. Performance - Hedge fund ETFs take a battering, Have long-short credit funds delivered?[more]

    Hedge fund ETFs take a battering From ETFStrategy.co.uk: It was a blow for the hedge fund world when Hillary Clinton’s son-in-law Marc Mezvinsky announced he would be closing his Greek-focused fund after it plummeted in value by 90%, just two years after it launched. For passive investor

  2. Ares Capital to buy American Capital in $3.4 billion deal[more]

    From PIOnline.com: Ares Management's business development company Ares Capital Corp. is buying troubled BDC American Capital for $3.43 billion, said a joint news release by the BDCs and another release by Ares Management. Ares Capital Corp.'s assets are expected to grow to about $13.2 billion when t

  3. Launches - Man Group and American Beacon launch new emerging debt fund, Nikko AM launches new Japan equity UCITS fund[more]

    Man Group and American Beacon launch new emerging debt fund American Beacon Advisors, an experienced provider of investment advisory services to institutional and retail markets, launched the American Beacon GLG Total Return Fund today. The Fund became effective May 20. The America

  4. Emerging markets hedge funds perform strongly, but capital base erodes[more]

    Komfie Manalo, Opalesque Asia: Latin American Emerging Markets and Russian hedge funds lead industry gains in the first months of 2016, posting strong performances through April as global and EM equity, commodity and currency markets surged in recent weeks following steep losses to begin the year

  5. Americas - Australian banks sending U.S. hedge funds broke, Ryan Puerto Rico ‘rescue’ bill could be windfall for hedge funds[more]

    Australian banks sending U.S. hedge funds broke From SMH.com.au: US hedge funds are not having the best of years. Profits are hard to find, they're underperforming and the punters are losing patience, withdrawing US$15 billion ($20.8 billion) in the March quarter. They're expected to wit