Mon, May 28, 2018
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. Investing - Hedge funds hike Smurfit Kappa positions amid takeover deal hopes, Hedge fund IBV Capital digs deep to unlock long-term value in a competitive market, Eisman of 'The Big Short' fame recommends shorting Deutsche Bank[more]

    Hedge funds hike Smurfit Kappa positions amid takeover deal hopes From Irishtimes.com: Two US hedge funds, Davidson Kempner and York Capital, have accumulated a combined 4.74 per cent interest in cardboard box maker Smurfit Kappa using financial derivatives. It comes as many investors cl

  2. Foundations of hedge fund managers gave big to controversial donor-advised funds[more]

    In the world of philanthropy and tax-deductible charitable giving, the explosion of donor-advised funds has touched off intense debate. Now, there is evidence that the DAF boom is being further fuelled by hedge fund foundation money. Four of the top five foundations that gave the most to large do

  3. Third Point to raise $400 million for SPAC, Farley to run it[more]

    From Reuters.com: Daniel Loeb's hedge fund Third Point LLC plans to raise $400 million for a "blank check" company which will be run by outgoing stock market operator NYSE Group President Thomas Farley, according to a regulatory filing made on Tuesday. The new company, referred to on Wall Stre

  4. Study: For hedge funds, smaller is better[more]

    From Institutionalinvestor.com: The smaller the hedge fund is, the better its performance is likely to be, according to a new study. The study - "Size, Age, and the Performance Life Cycle of Hedge Funds," released April 26 - sought to determine whether a hedge fund's size and age had any effect on i

  5. Hedge fund returns rose in April for first gain since January[more]

    From Bloomberg.com: Bloomberg Hedge Fund Database shows returns flat this year - Currency strategies had the biggest monthly gain at 13% Hedge fund returns increased 0.78 percent in April, reversing two consecutive monthly declines. The swing of 134 basis points was driven by gains in all seven