Sat, Sep 20, 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. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  2. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  3. Institutions - North Carolina workers call on state pension to dump up to $6bn in hedge funds, UK pension fund criticizes hedge fund fees[more]

    North Carolina workers call on state pension to dump up to $6bn in hedge funds From Forbes.com: The State Employees Association of North Carolina this afternoon called on state Treasurer Janet Cowell to withdraw all investments in hedge funds, which appear to amount to approximately $6 b

  4. Investors looking at other sources for hedge fund-like returns[more]

    Komfie Manalo, Opalesque Asia: Investors who are always on the lookout for higher gains are looking at alternative sources of income, particularly exchange-traded fund industry that generates hedge fund-like returns, according to

  5. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e