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First week in September saw hedge funds underperforming

Monday, September 09, 2013
Opalesque Industry Update - Bank of America Merrill Lynch’s latest Hedge Fund Monitor finds that hedge funds underperformed the market for the 1st week of September, rising 0.33%, versus an S&P500 return of +1.7%. Macro hedge funds increased their exposure to EM and US$ while reducing long exposure in S&P500 and NASDAQ. Large speculators further reduced their S&P500 exposure and aggressively reduced their Mexican Peso position from net long to flat. Equity Long Short and Event Driven performed the best, up 0.52% and 0.45% respecti vely. Convertible Arbitrage performed the worst, falling 0.36%.

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