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Investors pouring billions into passively managed funds

Posted on 28 June 2016 by VRS  |  Email |Print

Cheap, flexible and tax-efficient. The three big advantages of passively managed exchange-traded funds continue to drive the migration of investment assets from actively managed mutual funds to ETFs.
Many industry observers expected that increased market volatility would push investors back to active managers, but the latest asset-flow stats from research firm Morningstar suggest not. In May, $18.7 billion flowed out of actively managed U.S. equity funds and $8.1 billion flowed into passively managed ones that track an index — largely ETFs………………………………………..Full Article: Source

Hedge funds cooler on grains - but in softs, bullish bets at 8-year top

Posted on 28 June 2016 by VRS  |  Email |Print

Hedge funds’ love affair with grains has began to cool, even as they raised bullish soft commodity betting to a six-year high, leaving them vulnerable to the market turbulence which has followed the UK vote to quit the EU.
Managed money, a proxy for speculators, cut its net long position in futures and options in the top 13 US-traded agricultural commodities, from corn to hogs, by more than 60,000 contracts in the week to last Tuesday, according to data from the Commodity Futures Trading Commission regulator………………………………………..Full Article: Source

Hedge Funds Win World-Beating Rally With Record Gold Holdings

Posted on 27 June 2016 by VRS  |  Email |Print

Unlike most of the world, gold investors got it right when it came time to betting on the Brexit vote. They were rewarded with a world-beating rally. Hedge funds boosted their bets on price gains for bullion to an all-time high just two days before U.K. voters took to the polls and decided to leave the European Union, sending global markets roiling.
Gold futures climbed to a two-year high after the referendum. The metal’s wild ride isn’t over yet. Prices could jump another 7.7 percent by the end of the year, a Bloomberg survey showed………………………………………..Full Article: Source

Oil prices under pressure as hedge funds adjust positions: Kemp

Posted on 21 June 2016 by VRS  |  Email |Print

Hedge funds cut their net long position in the main crude futures and options contracts by 63 million barrels, 10 percent, in the week to June 14, as the rally in oil prices showed signs of running out of steam.
The one-week reduction in the net long position was the largest since July 2014, according to an analysis of data published by the U.S. Commodity Futures Trading Commission and the Intercontinental Exchange. Hedge funds and other money managers cut their combined net long position in the three main Brent and WTI futures and options contracts from a near-record 633 million barrels to 570 million………………………………………..Full Article: Source

Hedge funds lift bullish ag bets to 2-year top - raising scope for selling

Posted on 21 June 2016 by VRS  |  Email |Print

Hedge funds hiked their net long in agricultural commodities to the highest in more than two years, led by the most bullish positioning in softs since 2008 – but providing ammunition for the selling which set in on Monday.
Managed money, a proxy for speculators, raised by more than 107,000 contracts its net long position in futures and options in the main 13 US-traded agricultural commodities in the week to last Tuesday, according to data from the Commodity Futures Trading Commission (CFTC) regulator………………………………………..Full Article: Source

Hedge Funds Turn Most Bullish on Russian Ruble Since 2013

Posted on 21 June 2016 by VRS  |  Email |Print

Hedge funds boosted bullish bets on the ruble before the Federal Reserve meeting last week and after Russia’s central bank resumed monetary easing, data from the U.S. Commodity Futures Trading Commission show.
Speculators increased their long positions to 14,538 futures in the week ended June 14 from 8,086 contracts a week earlier. While they also doubled bets against the ruble, their net position representing the difference between the longs and the shorts reached the highest since February 2013………………………………………..Full Article: Source

Gold price bulls kept faith as hedge funds wavered

Posted on 17 June 2016 by VRS  |  Email |Print

A big factor supporting the gold rally – the best start to the year in more than a decade – have been investors in physical gold-backed exchange traded funds. Global vault holdings have swelled to 1,883 tonnes, the highest since December 2013 following net inflows of more than 400 tonnes so far this year – a dramatic reversal of the trend during the last three years when a staggering 1,198 tonnes left funds.
As the chart shows the more than 6% decline in the price of gold in May did not deter ETF investors from picking up more metal and doubling down on their conviction of a rising gold price………………………………………..Full Article: Source

Should Investors Buy Into Alternative Assets Like Hedge Funds?

Posted on 15 June 2016 by VRS  |  Email |Print

Hedge funds and the less-pricey liquid alternative funds that attempt to mimic them have generally underperformed thus far in 2016. Walter Davis, alternative investments strategist at Invesco (IVZ) , said they started off well when the market dropped to start the year, yet have foundered since stocks turned up in mid-February.
“It’s been a tough environment because there has been volatility and a lack of sustained moves in the market,” said Davis. “It’s just been chopping around.”……………………………………….Full Article: Source

Commodity Funds Outperform for First Time in Years

Posted on 14 June 2016 by VRS  |  Email |Print

Year-to-date gains in core commodity indexes are two to three times the gains in broad U.S. bond and stock indexes. For the first time in years, commodities are doing something they haven’t done in a while: They’re outperforming major asset classes like stocks, bonds and real estate.
After several years of consecutive annual losses for major commodity benchmarks, a turnaround in the beleaguered group appears to be in the works. Since the start of the year, the Thomson Reuters/CoreCommodity CRB Index (CRY) has climbed 9.5% in value compared to a gain of just 3.6% for the total U.S. stock market (VTI), 4.4% for the total U.S. bond market (BND) and 7% for global real estate equities (REET)………………………………………..Full Article: Source

Hedge funds hike bullish ag bets to 2-year high, amid ‘inflow of money’

Posted on 14 June 2016 by VRS  |  Email |Print

Hedge funds hiked their bullish bets on ags to the highest in two years amid the investor influx which drove prices to the highest in 17 months – although the upbeat positioning may spell bad news for wheat futures.
Managed money, a proxy for speculators, raised by nearly 170,000 contracts its net long position in futures and options in the main 13 US-traded agricultural commodities in the week to last Tuesday, according to data from the Commodity Futures Trading Commission (CFTC) regulator………………………………………..Full Article: Source

Investors pile into quant funds

Posted on 13 June 2016 by VRS  |  Email |Print

Investors may be fleeing hedge funds in droves but they are still allocating money to technology-driven strategies, despite more than a year of lacklustre performance. The move suggests investors are looking to position themselves for increased market swings or a possible crash as “quants”, which use computer algorithms to predict market moves, are not correlated to other strategies.
The number of institutional investors who allocated funds to the most popular sub-strategy of quant known as commodity-trading advisers, or CTAs, hit a record of 1,067 in 2015, an addition of 50 from the previous year, according to the data provider Preqin………………………………………..Full Article: Source

Don’t leave energy funds, industry group says

Posted on 08 June 2016 by VRS  |  Email |Print

A growing move in the United States to divest from oil and gas investments is a knee-jerk reaction that could jeopardize long-term values, an energy group said. The American Petroleum Institute, which represents the interests of the U.S. oil and natural gas sector, responded to word that the District of Columbia Retirement Board opted to divest from the industry.
Even though a lower price for crude oil has cut into the budgets of U.S. energy producers, the API said the country is still a world leader in oil and gas production and moving funds out of the industry may be short-sighted………………………………………..Full Article: Source

Speculators’ bullish ag bets hit 2-year high - as algo funds move in

Posted on 07 June 2016 by VRS  |  Email |Print

Speculators lifted bullish positioning on agricultural commodities to the highest in nearly two years, as algorithmic funds flooded in, into sugar at least, – while coffee and wheat caught out investors making bearish bets.
Managed money, a proxy for speculators, raised by more than 64,000 contracts its net long position in futures and options in the main 13 US-traded agricultural commodities in the week to last Tuesday, according to data from the Commodity Futures Trading Commission (CFTC) regulator………………………………………..Full Article: Source

Commodity hedge funds get $5b embrace on oil gain

Posted on 06 June 2016 by VRS  |  Email |Print

The rally in oil has given a fillip to long-suffering commodities hedge funds. After four years of haemorrhaging cash and clients, managers are once again making money and winning back investors. About $5 billion has coursed into the funds in 2016, with the first quarter seeing the biggest inflows since 2009, according to data compiled by eVestment.
Investors are being drawn by gains such as the more than 18 per cent increase reported in a letter to clients by Stuart Zimmer’s ZP Energy Fund in New York and the 12.7 per cent posted by oil trader Pierre Andurand’s $1.1 billion Commodities Master Fund in London. Officials at the funds declined to comment………………………………………..Full Article: Source

Three funds to cash in on a potential bull market in commodities

Posted on 03 June 2016 by VRS  |  Email |Print

Commodities have come flying back so far in 2016 following a sustained period of hefty price falls. Various reasons have been given for this phenomenon such as a rebalancing in the supply/demand dynamic in the space, signs of an inflationary environment and very low valuations.
Whatever the drivers have been, FE data shows the Bloomberg Commodity index is up 12 per cent so far this year with certain individual commodity prices up significantly more. Of course, some will no doubt think that given the pace of the recent rally the best returns have now been made. ……………………………………….Full Article: Source

Commodity Hedge Funds Get $5 Billion Embrace on Oil Gain

Posted on 01 June 2016 by VRS  |  Email |Print

The rally in oil has given a fillip to long-suffering commodities hedge funds. After four years of hemorrhaging cash and clients, managers are once again making money and winning back investors.
About $5 billion has coursed into the funds in 2016, with the first quarter seeing the biggest inflows since 2009, according to data compiled by eVestment. Investors are being drawn by gains such as the more than 18 percent increase reported in a letter to clients by Stuart Zimmer’s ZP Energy Fund in New York and the 12.7 percent posted by oil trader Pierre Andurand’s $1.1 billion Commodities Master Fund in London……………………………………….Full Article: Source

Funds Step Back From Gold Before Yellen Says Rate Rise Is Coming

Posted on 30 May 2016 by VRS  |  Email |Print

Hedge funds decided to take a breather from gold just before Janet Yellen gave investors more reason to ditch the precious metal.
After a roaring start to the year, the excitement over bullion has dissipated this month on increasing expectations that the Federal Reserve is getting ready to raise U.S. interest rates again as the economy improves. Last week, money managers who have been bullish since January reduced their wagers on a price rally by the most this year………………………………………..Full Article: Source

A 107pc return in six months: Gold funds storm 2016 performance tables

Posted on 27 May 2016 by VRS  |  Email |Print

Specialist gold funds have clocked up incredible gains since the start of the year, with some doubling investors’ money. The rally, thanks to a 20pc rise in the gold price, puts them among the best performers of the 3,500 or so collective investments available to British investors.
Investec Global Gold, MFM Junior Gold, Ruffer Gold and Blackrock Gold & General are all among the top performers, while WAY Charteris Gold & Precious Metal and the Smith & Williamson Global Gold & Resources fund have also delivered stand-out performance………………………………………..Full Article: Source

Fund Selector: Is the risk worth the reward?

Posted on 24 May 2016 by VRS  |  Email |Print

My interest in commodities was recently piqued after receiving some emails from well-meaning individuals within the fund sales community, pointing out that their commodity funds were, by far, the best performing funds year to date and I should, of course, be assessing these portfolios.
In my view, a healthy dose of skepticism is required for those undertaking fund research, so a little more digging (excuse the pun) was required. While the year-to-date performance of these products is undoubtedly stellar, it does not make up for the horrific performance produced by the asset class over any meaningful medium-term time period. Nonetheless, further assessment of the asset class was merited………………………………………..Full Article: Source

Hedge Funds Keep Betting on Silver Even as Rally Starts to Fade

Posted on 16 May 2016 by VRS  |  Email |Print

Hedge funds expanded their bullish bets on silver to an all-time high even as this year’s hottest metals rally began to fade. Money managers added to their net-long positions in silver for the fourth time in five weeks, chasing the kind of returns that in the first three months of the year sent the precious metal to its best quarterly gain since 2012.
The price surge is showing signs of fatigue, with futures posting two consecutive weekly declines and an almost 4 percent drop for May. Silver leapfrogged gold in mid-April as the best-performing precious metal as data signaled a resilient U.S. expansion and a stabilizing Chinese economy………………………………………..Full Article: Source

Global commodity, energy funds drained

Posted on 16 May 2016 by VRS  |  Email |Print

The commodity rout over the past two years has taken a toll on India-based global commodity and energy funds. The Birla Sun Life Global Commodities Fund is down about 13 per cent over the past year, while the DSP BlackRock World Energy Fund has slipped nearly 17 per cent. The annualised return since inception of these funds in 2008/2009 is less than 2 per cent.
Until recently, there was another fund in the category — Mirae Asset Global Commodity Stock Fund. But this has been merged with the Mirae Asset India-China Consumption Fund with effect from March 2016 — a result, perhaps, of the pain in global commodities………………………………………..Full Article: Source

Hedge-Fund Investors Called Commodities Markets’ Rebound: Chart

Posted on 13 May 2016 by VRS  |  Email |Print

Hedge-fund investors rushed into commodities money pools in the first quarter and the bet’s paying off. They allocated about $4 billion to the strategy in the period, benefiting as the pools returned 6 percent in the first four months.……………………………………….Full Article: Source

Hedge Funds Almost Double Currency Algo Trading, Greenwich Says

Posted on 13 May 2016 by VRS  |  Email |Print

Hedge funds almost doubled their use of algorithmic trading in the foreign-exchange market last year, according to Greenwich Associates. Sophisticated investors executed 61 percent of their currency trades via automated computer programs in 2015, up from 33 percent in 2014, the Stamford, Connecticut-based financial-services consulting firm said in a report.
That compares with buy-side institutions more broadly, including pension funds and other asset managers, which used algos to handle 33 percent of volumes versus 27 percent a year earlier, according to a Greenwich survey of more than 1,600 foreign-exchange market participants in North America, Latin America, Europe, Asia, Australia and Japan………………………………………..Full Article: Source

What Do Hedge Funds Think about Gold?

Posted on 10 May 2016 by VRS  |  Email |Print

Stanley Druckenmiller, chair and CEO of the Duquesne Family Office, spoke to the Sohn Investment Conference attendees on May 4, 2016. Throughout his investment career, his hedge fund track record has seen returns of 30%. According to one of his investors, the Duquesne fund never had a down year.
During the meeting, Druckenmiller was negative on China’s economy going forward. He also expressed his skepticism about the Federal Reserve’s policy. He recommended that investors opt out of the stock markets and also mentioned that his core investment and largest currency allocation is gold. ……………………………………….Full Article: Source

Global hedge funds recover in April on resurging energy commodities

Posted on 05 May 2016 by VRS  |  Email |Print

Global hedge funds recovered in April with the HFRX Global Hedge Fund Index gaining +0.41% last month (-1.47% YTD), while the HFRX Market Directional Index gained +5.31% during the same period (-1.58% YTD) on resurgent energy and commodities.
In its monthly report, Hedge Fund Research said that the global financial markets posted mixed performance in April and added that both the Japanese yen and British pound sterling surged against the US$. Global equities posted mixed results, with gains in Europe offset by weakness in Asia, while gains across large and small cap indices were offset by weakness in technology; reported earnings were also mixed, with weakness in Apple & Twitter offset by strength in Amazon………………………………………..Full Article: Source

Risks rise as hedge funds place record bet on oil: Kemp

Posted on 04 May 2016 by VRS  |  Email |Print

Hedge funds increased their net long positions in Brent and WTI derivatives by 7 million barrels to a record 663 million barrels in the week ending April 26. Even though oil prices have already risen by roughly $20 per barrel (70 percent) from their low in January, hedge funds are more bullish than at any time since oil prices started slumping in the summer of 2014.
Hedge funds and other money managers held futures and options contracts equivalent to 791 million barrels of crude betting on a further rise in prices and just 128 million barrels gambling on a fall……………………………………….Full Article: Source

Oil rally is not just about hedge funds: Kemp

Posted on 03 May 2016 by VRS  |  Email |Print

Oil prices are becoming dangerously overheated as speculators anticipate a rebalancing of supply and demand that has barely started, according to many oil analysts. “Even as oil rallies, analysts have barely nudged up their price forecasts as they worry that crude’s recent gains might not be sustainable,” notes the Wall Street Journal.
Many fear hedge funds are pushing up oil prices prematurely, which will lead to a renewed crash when the bubble bursts, as it did after the last big run-up in prices between January and May 2015………………………………………..Full Article: Source

Gold Keeps Shining as Funds Miss Out on Best Rally in Two Months

Posted on 02 May 2016 by VRS  |  Email |Print

Nothing seems to be slowing down the gold market, even when speculators take a step back. Bullion has been on a tear, with futures last week posting the biggest advance in two months. Hedge funds missed the party, reducing their wagers on a rally by the most since they turned bullish in January.
The money managers were more fortunate when it came to silver, taking their holdings to the highest on record just before the metal had its best monthly advance since 2013. The Bloomberg Precious Metals Subindex jumped 23 percent in 2016 amid renewed demand for stores of value………………………………………..Full Article: Source

Commodity hedge funds outshine other hedge funds

Posted on 29 April 2016 by VRS  |  Email |Print

The commodities market has a very positive sentiment now and the commodity hedge funds are doing better than other hedge funds. Commodities hedge funds have given negative returns for the past three years.
But according to Peter Laurelli, vice-president, research, eVestment, the current year has started on a positve note for commodities as investors start reallocating for better gains. The commodities market has a very positive sentiment now and the commodity hedge funds are doing better than other hedge funds………………………………………..Full Article: Source

Commodity hedge funds are hot again

Posted on 27 April 2016 by VRS  |  Email |Print

Commodity hedge funds netted more investor cash in the first quarter than any other type of hedge fund, and their $4 billion of inflows was their largest for any quarter in more than six years. The group has brought in more money that it has had to redeem for seven straight months, the longest winning streak ever tracked by eVestment.
The quarter has brought a turning point for commodity markets. Oil and gold have had their sharpest rallies in years amid broad gains in the sector. They boosted commodity hedge funds to returns of 1.6% in the quarter, besting all peers except currency and financial derivatives traders, eVestment said………………………………………..Full Article: Source

Commodity Hedge Funds Are Hot Again

Posted on 26 April 2016 by VRS  |  Email |Print

The first quarter was a turning point for commodity markets, and the hedge funds that invest in them. The market investors couldn’t wait to get out of a year ago is the one they’re rushing into in 2016.
Commodity hedge funds netted more investor cash in the first quarter than any other type of hedge fund, and their $4 billion of inflows was their largest for any quarter in more than six years. The group has brought in more money that it has had to redeem for seven straight months, the longest winning streak ever tracked by eVestment, which plans to release the data later Monday morning………………………………………..Full Article: Source

Hedge Funds Losing Investors, Goldman Seeking Customers – Podcast

Posted on 26 April 2016 by VRS  |  Email |Print

Hedge funds are finally putting up some good performance numbers, but that isn’t doing much for their reputation. On Monday’s MoneyBeat podcast, WSJ reporters Timothy Martin and Tim Puko joined us to talk about hedge funds, and the money that is flowing out of them.
The industry has had net outflows in five of the past six months, a rare stretch of investor rejection. There is one exception, however: Commodity hedge-funds, which just had their best quarter for inflows in six years. The irony is that hedge funds just put in their best performance for a quarter in nearly four years………………………………………..Full Article: Source

Hedge funds go long on commodities

Posted on 22 April 2016 by VRS  |  Email |Print

The financial year starting April 1 has been good so far for commodity market players, with hedge funds turning bullish and going long on most base metals, crude oil and bullion.
Easing concerns on China’s growth as reflected in the recent data, weakening of the dollar index and overall positive sentiment have helped bulls get an upper hand. Bloomberg Commodity Index headed for a five-month high, spurred by gains from metals to soy beans, and weighing on government bonds………………………………………..Full Article: Source

Hedge funds bet on tightening oil market despite Doha debacle

Posted on 21 April 2016 by VRS  |  Email |Print

Brent futures prices are signaling the market expects a rapid tightening of the supply-demand balance in the second half of 2016. The spread between futures prices for oil delivered in June and July has moved into a backwardation of 17 cents per barrel from a contango of almost 50 cents at the end of last month.
Contango tends to be associated with an oversupplied market and high and rising stocks, while backwardation is associated with the opposite……………………………………….Full Article: Source

Copper lifts as funds buy base metals

Posted on 19 April 2016 by VRS  |  Email |Print

Copper prices have risen, reversing earlier losses as funds bought base metals on the back of a weaker US dollar and offset the selling triggered by tumbling oil and global equities.
London Metal Exchange benchmark copper ended up 0.4 per cent at $US4,827 a tonne from an earlier session low of $US4,758. “Copper wasn’t hammered like oil and stocks earlier today. That’s a positive sign,” a copper trader said………………………………………..Full Article: Source

Funds Are Betting the Gravity-Defying Gold Rally Isn’t Over Yet

Posted on 18 April 2016 by VRS  |  Email |Print

When it comes to gold, hedge funds are betting that what goes up will continue to go up. Even after bullion’s best start to a year since at least 1975, investors are positioning themselves for more gains.
Money managers increased their wagers on a price rally to the highest since 2012, taking their optimism to a level last seen before a three-year bear market started. The metal has jumped 16 percent this year. Federal Reserve officials are cautious about raising U.S. interest rates amid persistent risks facing the global outlook………………………………………..Full Article: Source

Indian regulator seeks to ramp up hedging in commodities

Posted on 14 April 2016 by VRS  |  Email |Print

The Securities and Exchange Board of India (Sebi) has asked the commodity market advisory committee headed by Ramesh Chand, agriculture expert and full-time member of Niti Aayog, to recommend measures to increase hedgers’ participation in commodity derivatives.
Hedging is the core function of the commodity derivatives market and trading and speculation are permitted with regulations only to provide liquidity. When the Forward Markets Commission was regulating commodity derivatives, it allowed margin relaxations for hedging. Sebi, with more powers and resources at its disposal, has asked the committee to take a holistic view on rules to make hedging easy………………………………………..Full Article: Source

Currency-Hedged Funds—Safer or Riskier Thanks to Derivatives?

Posted on 12 April 2016 by VRS  |  Email |Print

A government proposal meant to limit the use of risky derivatives could hamper an increasingly popular breed of mutual funds that hedge against currency risks. Individual investors in recent years have flocked to mutual funds and exchange-traded funds that try to minimize the impact of currency moves on their investments in foreign assets.
Now, rules being considered by the Securities and Exchange Commission to limit mutual funds’ use of derivatives broadly could make it harder, or more expensive, for the currency-hedging funds to hedge their risk………………………………………..Full Article: Source

Investors Rush to Snap Up Gold Funds as Price Bounces

Posted on 08 April 2016 by VRS  |  Email |Print

Investors are welcoming gold funds back into their portfolios in a big way, encouraged by significant gold price rally and a low interest rate environment, Morningstar data shows. The gold price has rallied 16% year to date, and the funds in the precious metal equities sector are feeling the benefits.
The precious metals equity fund sector posted inflows of £193 million from December 2015 to February this year; its largest quarterly inflows in nearly three years as expectations for an interest rate rise in the UK faded. Omitting the inflows in December, the sector recorded a massive inflow of £185 million in the first two months of this year, according to Morningstar Direct………………………………………..Full Article: Source

Gold Funds See Outflows after Touching a 2-Year High

Posted on 07 April 2016 by VRS  |  Email |Print

The precious metals have been on a southward journey in the last couple of days. The fall of the precious metals has likely been due to the diminishing safe-haven appeal of the bullions. Initially, investors were likely sticking to gold as most of the other assets in the economy were underperforming.
However, the recent fall in the bullions has curbed the fund flows in gold. The SPDR Gold Shares ETF (GLD) had seen remarkable fund infows since the begining of 2016. However, the consistent inflows turned into outflows as the metal started to fall………………………………………..Full Article: Source

Hedge funds up bullish bets on rising oil prices

Posted on 31 March 2016 by VRS  |  Email |Print

Hedge funds and other money managers have amassed a near-record number of bullish bets on increasing oil prices, helping push the main international benchmark well above $40 per barrel.
By the close of business on March 22, money managers held a net long position equivalent to almost 579 million barrels in the three largest crude oil futures and options contracts. Hedge funds have more than doubled their net long position from just 242 million barrels at the end of last year, according to an analysis of data published by regulators and exchanges………………………………………..Full Article: Source

Funds Look For a Bottom In Commodity Prices: Scotiabank

Posted on 30 March 2016 by VRS  |  Email |Print

Scotiabank’s Commodity Price Index edged down in February by -0.3% m/m (-25.0% yr/yr) — the fourth consecutive monthly decline — but is expected to rally significantly in March. Commodity prices have rebounded across a broad front since mid-February amid some easing in concern over the outlook for China’s economy and a weaker U.S. dollar.
“Equally important, hedge & investment funds appear to be looking for reasons to bid commodity prices higher, after the rout of recent years. The Scotiabank Commodity Price Index is currently at a more than a decade low,” said Patricia Mohr, Vice President of Economics and Commodity Market Specialist at Scotiabank………………………………………..Full Article: Source

China mutual funds turn to commodities, bet on reforms

Posted on 29 March 2016 by VRS  |  Email |Print

China’s mutual fund industry is pushing to develop investment products linked to local commodity futures, betting that plans to fight chronic oversupply in the country’s mammoth resource sector will drive up prices for raw materials.
The funds want to branch out beyond their traditional focus on stocks and fixed-income, with no immediate upturn in sight in the wake of turmoil last year that pulled down share markets by nearly 50 per cent and forced bond yields to multi-year lows………………………………………..Full Article: Source

Australia announces A$1 billion clean energy fund, in break with past

Posted on 23 March 2016 by VRS  |  Email |Print

Australian Prime Minister Malcolm Turnbull on Wednesday said the country would establish a A$1 billion (535.7 million pounds) clean-energy innovation fund, in a major departure from his predecessor’s much maligned approach to combating climate change.
Conservative former Prime Minister Tony Abbott was criticised by environmental groups for lagging behind other advanced economies when he announced cuts to Australia’s greenhouse gas emissions last year………………………………………..Full Article: Source

Commodity Fund Hires Former Tudor, Ospraie, Tigris Managers

Posted on 22 March 2016 by VRS  |  Email |Print

Argon Capital Management appointed former executives of Tudor Investment, Ospraie Management and Tigris Financial to head the commodities fund’s energy, metals and macro strategies.
The New York-based firm hired Jeffrey Halpern as chief risk officer, co-founder Marcos Bueno said Monday. Halpern, who performed a similar role at Credit Suisse and Moore Capital, will work with newly appointed senior portfolio managers and partners John Curran, Andrew Suckling and Pasha Bahadori………………………………………..Full Article: Source

Cash out, commodities up: global fundie survey

Posted on 17 March 2016 by VRS  |  Email |Print

Fund managers are finally spending their cash hoardings, according to Morgan Stanley’s global fund manager survey for March - with commodities a favourite target. The survey was taken between March 4 and March 10, when global markets were rallying, risk was back in favour, and commodities had seemingly bottomed.
The top ten survey takeaways, as judged by Morgan Stanley, were: Cash holdings fell from 5.6 per cent in February - the highest figure since November 2001 - to 5.1 per cent. The allocation to commodities went from net 29 per cent underweight to net 13 per cent underweight - the biggest month-on-month jump since records began in 2006. The current figure, a nine-month high, is still 0.6 standard deviations below the long-term average………………………………………..Full Article: Source

Managers make record increase to commodity allocations

Posted on 17 March 2016 by VRS  |  Email |Print

Fund managers made their largest month-on-month increase in commodities allocations on record in March, the Bank of America Merrill Lynch fund manager survey shows. Allocations to commodities have jumped to a nine-month high, rising to a net 13 per cent underweight from a net 29 per cent underweight last month.
The rise is the biggest month-on-month jump on record since 2006, the survey finds. Allocations to real estate also jumped to a net 11 per cent overweight from a net 1 per cent overweight in February………………………………………..Full Article: Source

Hedge funds step up bets on commodity market revival

Posted on 16 March 2016 by VRS  |  Email |Print

After deserting commodities markets during last year’s slide, some hedge funds are starting to move back in, betting a recent pick-up in energy prices could signal a turning point. A handful of managers are weighing up new specialist hedge funds, industry data shows, while some funds are stepping up exposure to energy markets and oil in particular.
Leading commodities indexes rallied on Friday after the International Energy Agency (IEA) signalled a possible floor in the price of oil which has slumped 65 percent since June 2014, hitting global growth and stocks………………………………………..Full Article: Source

Fund Managers Cut Cash, Buy Commodities and Emerging Markets

Posted on 16 March 2016 by VRS  |  Email |Print

Global fund managers have become more optimistic about financial markets, especially those that have been out of favor such as commodities, including energy, emerging markets and high-yield debt.
According to the Bank of America Merrill Lynch Fund Manager Survey for March, managers have cut cash levels to 5.1% from 5.6% in February — their highest level in more than 14 years — while increasing allocations to industrials, commodities, energy, materials, emerging markets and high yield. The survey records changes in allocations between mid-February and mid-March………………………………………..Full Article: Source

Hedge funds step up bets on commodity market revival

Posted on 15 March 2016 by VRS  |  Email |Print

After deserting commodities markets during last year’s slide, some hedge funds are starting to move back in, betting a recent pick-up in energy prices could signal a turning point. A handful of managers are weighing up new specialist hedge funds, industry data shows, while some funds are stepping up exposure to energy markets and oil in particular.
Leading commodities indexes rallied on Friday after the International Energy Agency (IEA) signaled a possible floor in the price of oil LCOc1 which has slumped 65 percent since June 2014, hitting global growth and stocks………………………………………..Full Article: Source

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