Wed, Jan 28, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

BofAML diversified figures show opening November return of 0.19%, 5.36% year to date

Tuesday, November 12, 2013
Opalesque Industry Update - Key takeaways this week from the Bank of Americal Merrill Lynch’s Hedge Fund Monitor included:
  • Macro hedge funds increase their exposure to S&P500. They also increased their exposure to EM and EAFE.
  • Hedge fund flash Nov return down 0.19%, 5.36% year to date,underperforming S&P500 index.
  • Large speculators aggressively reduce their longs in EUR while increasing shorts in 10-yr. Slight reduction in commodities and S&P500 while longs increased in NASDAQ.
  • Investible Hedge Funds flash returns down 0.19% for Nov. The investible Hedge Fund Composite Index was down 0.19% for the first week of November , compared to a price return of up 0.79% for the S&P500 index. Equity Market Neutral and Convertible Arbitrage performed the best, up 0.38% and 0.10% respectively. Macro Hedge Funds performed the worst, falling 0.65%.
Examining hedge fund positioning by major strategies Our models indicate that Market Neutral funds reduced market exposure to 2% net short from 7% net long. Equity Long/Short also reduced market exposure to 18% from 23% net long; below the 35 - 40% benchmark level. Macros maintained their long exposure to S&P500 and reduced NASDAQ exposure. They also increased short exposure to USD and 10-yr. In addition, they aggressively increased commodity exposure. Overseas, they reduced their short EM exposure to be net longs.

Press release

bc

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. Investing - U.S. investors favor currency hedged Europe ETFs as euro tumbles, Quants win back investors as Swiss franc fuels volatility gains, David Einhorn's $7bn hedge fund is loading up on this stock, Hedge fund BlueMountain Capital unveils Ocwen Financial short, claims default on notes[more]

    U.S. investors favor currency hedged Europe ETFs as euro tumbles From Reuters.com: U.S. investors stung by the falling euro who want to stay invested in Europe are turning to exchange-traded funds designed to strip out the impact of the region's currency. The biggest among so-called "cur

  2. News Briefs - Millennials use tech tools to jump into investing, Winklevoss twins to launch bitcoin exchange with FDIC insured deposits, Robertson’s legacy from hedge funds to New Zealand, Real estate managers exploring smaller open-end funds[more]

    Millennials use tech tools to jump into investing It is the Facebookification of monetary investing. From social networking platforms that enable young investors to stick to every other's stock-picking mojo, to internet sites for initially-timers hungry for a piece of the Silicon Valley

  3. Top performing private equity firms you should invest in[more]

    Komfie Manalo, Opalesque Asia: Professor Oliver Gottschalg of Paris-based HEC Business School, also known as Ecole des Hautes Etudes Commerciales de Paris has released his annual ranking of the top performing private equity firms. The 2014 HEC-DowJones Private Equity Performance Ranking

  4. Comment - Why invest in hedge funds if they don't outperform the market?[more]

    From Forbes.com: Hedge funds have always been a bit exotic and an enigma to some, but bottom line they are supposed to produce good returns using a range of strategies including global macro, event driven and relative value (arbitrage). And, sophisticated or high-net-worth individuals (HNWIs) could

  5. Owen Li 'truly sorry' for blowing up $100m of hedge fund’s assets[more]

    From CNBC.com: A hedge fund manager told clients he is "truly sorry" for losing virtually all their money. Owen Li, the founder of Canarsie Capital in New York, said Tuesday he had lost all but $200,000 of the firm's capital—down from the roughly $100 million it ran as of late March. "I take r