Wed, Jul 23, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Macros increase S&P500 exposure - BAML

Tuesday, May 06, 2014

Bailey McCann, Opalesque New York:

Hedge funds are increasing their long exposures to the S&P 500 - specifically macro funds are adding to their overall long positions according to the latest hedge fund monitor data from Bank of America Merill Lynch Global Research. Funds have also decreased stretched Russell short positioning. This marks the third week of gains in S&P 500 positions after hedge funds suffered a little whipsawing in March through the beginning of April.

The Diversified Investible Hedge Fund Composite Index is up 0.38% versus S&P500 which is up 1.93% on a price returns basis till April 30. Equity Market Neutral and Event Driven Funds performed the best during this period, up 2.65%.and 2.12% respectively. Models indicate that Market Neutral funds decreased market exposure to 7% net long from 10% net long. Equity Long/Short market exposure decreased to 39% net long from 44% net long; in line with the 35-40% benchmark level.

On a position level, funds increased their long positioning in Soybean futures, Corn and Wheat futures. They also increased Gold and reduced Copper shorts but decreased Silver longs. They decreased Platinum longs but increased Palladium longs. In Energy funds decreased their Crude longs and increased Natural Gas shorts. They also decreased Heating Oil shorts ......................

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. Events – AIMA Australian Hedge Fund Forum, Sept. 16, Sydney[more]

    AIMA Australia invite you to join us at our annual Hedge Fund Forum on Tuesday 16th September 2014 at the Sofitel Sydney Wentworth. The AIMA Australian Hedge Fund Forum is a non-profit hedge fund conference organised by the industry for the industry, featuring quality Australian and internation

  2. Opalesque Exclusive: Loeb, Grantham cite growing economic concerns in letters[more]

    Bailey McCann, Opalesque New York: Hedge fund manager Daniel Loeb, head of Third Point, and Jeremy Grantham of Grantham, Mayo, Van Otterloo & Co. have both released their quarterly investor letters today. While news is positive on some fronts, and both men see pockets of opportunity, they also h

  3. Investing – Hedge funds expect Netflix earnings to catapult forward, Third Point's Loeb takes stakes in Fibra Uno, YPF, Royal DSM, Lake Capital in talks to back Engine Group[more]

    Hedge funds expect Netflix earnings to catapult forward From Investing.com: Netflix has made major strides forward in 2014 despite ongoing battles with the FCC and cable companies over the issue of net neutrality. The FCC has now received over 500,000 comments from the public on its pend

  4. Opalesque Roundtable: European family offices struggle to retain their investments in offshore hedge funds[more]

    Komfie Manalo, Opalesque Asia: The European Union’s Alternative Investment Fund Managers Directive (AIFMD) will constrain investment opportunities amidst concern a number of U.S. fund managers will stop marketing their products in the European Union under the new rule, said Valentin Bohländer fro

  5. Opalesque Roundtable: Success in hedge fund marketing not linked to performance, but investor appetite[more]

    Komfie Manalo, Opalesque Asia: Success in marketing a fund is not linked to the performance, but to investor appetite, to the way you can market the fund, and to how much time you can spend to raise assets, said Antoine Rolland, the CEO of incubator and seeding firm