Wed, Aug 10, 2022
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Improving sales in the U.S. uplift hedge funds in first two weeks of May

Wednesday, May 18, 2016

Komfie Manalo, Opalesque Asia:

Hedge funds recouped losses in the first week of this month and were up 0.5% as of May 10 (-2.7% YTD), fuelled by macro managers that were up 1%, Lyxor Asset Management said. The macro strategy was supported by the strengthening of the US dollar and the recovery in equity indices.

Lyxor said that some macro managers’ views on accommodative monetary policies were rewarding, especially with regards to their long stance on European and Japanese fixed income and equities.

Lyxor AM senior strategist Philippe Ferreira, commented, "As the earnings season is coming to an end, markets have found some support on the improving sales picture in the U.S. According to Factset, the first quarter of 2016 is signaling a recovery in U.S. sales results: more than half of the companies listed in the S&P 500 (55% precisely) have beaten sales estimates so far (based on the 458 companies listed in the S&P 500 that have reported earnings until now). This is a strong improvement compared to the last quarter of 2015, when less than 46% of U.S. companies beat sales estimates."

Other strategies are also in the black, with special situation funds continued to be buoyed by the positive risk sentiment (+1.2%). Merger arbitrage funds were up 0.6%. CTAs (-0.7%) suffered from their shorts on the USD (vs JPY especially) and longs in metals. Yet, their less aggressive stance on energy and gains on the fixed income a......................

To view our full article Click here

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. Other Voices: ESG exuberance is at all-time highs. But will investors buy?[more]

    As investors increase their focus on mission-based investing, they continue to grapple with ESG and what it means to them. By David Shalom, Director of Capital Introductions at Pershing Innovation. New investment solutions. That's how managers deliver value and attract new inve

  2. Alts managers sitting on over $2.5tn+ of dry powder[more]

    Laxman Pai, Opalesque Asia: In the current rising interest rate environment, investment activity in the private markets has continued to grow, revealed a study. "With alts managers sitting on over $2.5T+ of dry powder and continuing to enjoy premium valuations and interest rates on a prec

  3. Opalesque Exclusive: Hong Kong manager expects additional tailwind in Asian markets[more]

    B. G., Opalesque Geneva: The Asia equity markets have not been at their best so far this year, with the MSCI Asia index down almost 13% YTD, but many managers remain buoyant about the region, as in

  4. Opalesque Exclusive: Emerging markets persist despite headwinds[more]

    Bailey McCann, Opalesque New York: Emerging markets have been under significant pressure since the start of the year, but there are some nascent trends that suggest that things could be getting better. Emerging markets firm Gramercy Fund Management recently released its third quarter outlook and

  5. Opalesque Exclusive: Castle Hall's DiligenceExchange free Transparency Reports cover 100 managers with $10tn of assets[more]

    Matthias Knab, Opalesque for New Managers: Managers and investors can get free access to DiligenceExchange here: https://bit.ly/DXCInfo Castle Hall, the Du