Fri, Dec 15, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

SEB cautious towards equity long/short in current and future quarters

Friday, December 09, 2011
Opalesque Industry Update - SEB, the Northern European financial group, comments on Hedge Funds in an article called ““Operation Twist” benefiting Relative Value”. Here is an overview:

  • Hedge fund performance has remained weak, mainly due to the euro zone crisis, but also mixed macro statistics from the United States and fears of a hard landing in China
  • All major strategies are showing negative results since the beginning of the year, with Macro and CTA performing best in relative terms
  • SEB continues to have a cautious attitude towards Equity L/S during the current and coming quarters, with market conditions for Equity Long/Short remaining exceptionally difficult
  • Relative Value managers in fixed income investments performed relatively well in the last quarter. Looking ahead, there will probably be major upturn potential for bonds when there is favourable news about the euro crisis. SEB is therefore positive towards Relative Value during the next quarter
  • For Event Driven strategies, the third quarter was the worst since the 1998 Asian financial crisis. Even though various companies will probably seek higher revenues through corporate deals during an economic downturn, today’s turbulence in the euro zone are likely to hamper activity in the near future. Event Driven and Distressed are strategies SEB does not recommend at present
  • On the whole, Macro and CTA were the best-performing strategies during the third quarter, with a downturn of 0.9 per cent. They are viewed by most observers as a tool for portfolio diversification that is expected to perform well when other asset classes are having difficulty. Macro and Trading remain SEB’s first choices among hedge fund strategies in the near future
For a full copy of SEB's recent Investment Outlook: "A global search for return" published in December 2011 please contact: Robert Roessler, direct line: 0203 128 8592, seb@mhpc.com

BG

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
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. Mediobanca acquires majority stakes in Swiss hedge fund[more]

    Komfie Manalo, Opalesque Asia: Listed diversified banking group Mediobanca SpA said it has acquired a majority stake in Geneva-based hedge fund firm RAM Active Investments SA (RAM AI), an active and alternative asset manager offering a range of act

  2. Launches - Ex-BlueCrest team to open over $200m hedge fund, Greg Coffey, a hedge fund star who retired at 41, is eyeing a comeback, Brevan Howard plans Greek funds as bond rally signals revival[more]

    Ex-BlueCrest team to open over $200m hedge fund From Bloomberg.com: A team of traders who left BlueCrest Capital Management earlier this year raised more than $200 million for their own hedge fund focused on Asian stocks, according to a person familiar with the matter. Ovata Capital Manag

  3. North America - Miami could attract hedge funds if SALT deductions axed[more]

    From Law360.com: For years, inertia has been Nitin Motwani's greatest foe in his attempts to lure hedge fund owners in the northeast to Miami, which he has pitched as a tropical low-tax paradise. But with the Republican tax bill proposing to eliminate deductions for state and local taxes, he's sensi

  4. Northleaf Capital Partners closes debut private credit fund on $670M[more]

    Bailey McCann, Opalesque New York: Northleaf Capital Partners has closed its debut private credit fund - Northleaf Private Credit I - on $670 million. The vehicle will invest in private credit transactions in Europe and North America, with a primary focus on lending to private equity-backed compa

  5. ...And Finally - The ongoing gun saga in the U.S.[more]

    From Newsoftheweird.com: As elder members of the First United Methodist Church in Tellico Plains, Tennessee, gathered on Nov. 16 to discuss the recent church shooting in Sutherland Springs, Texas, one of those present asked if anyone had brought a gun to church. One man spoke up and said he c