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Alternative Market Briefing

Hedge funds return to buying crude - BAML
Tuesday, October 28, 2014

Bailey McCann, Opalesque New York:

Hedge funds have renewed their purchases of crude oil after an extensive sell off according to the latest hedge fund monitor data from Bank of America Merrill Lynch. Funds are back at a net long on the position.

The diversified hedge fund index was down 2.2% for the month through October 22, while S&P500 was down 2.3% on a price returns basis. On a strategy basis, Equity Market Neutral Funds were up 0.20% while Event Driven funds were down 4.9%. Models indicate that Market Neutral funds market exposure decreased to -4% net short from 5% net long. Equity Long/Short market exposure......................

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