Monday, 30 March 2015
Last updated 2 days ago
Apr 16 2012 | 1:27pm ET
The Bank of America Merrill Lynch global diversified hedge fund composite index was up 0.18% in March, trailing the S&P 500 by 2.95%.
By region, U.S. and Japan funds performed “relatively better” in March 2012, according to the latest BofAML Hedge Fund Monitor, with Japanese long/short funds up 1.40% and U.S. funds returning 0.90%. The biggest losers, relatively, were Asia (excluding Japan) funds, down 2.11% for the month, and Asia (including Japan) funds, down 1.47%.
By strategy, event driven and distressed credit funds performed the best, up 0.89% and 0.74% respectively. Managed futures turned in the worst performance, shedding 1.45%.
According to BofAML analyst Mary Ann Bartels, market neutral funds held market exposure steady at 4% net long while equity long/short maintained market exposure at 34% net long. Macro strategies reduced risks, selling the S&P 500, NASDAQ 100, EM and EAFE, 10-year Treasuries and commodities, while partially covering U.S. dollars.
Large speculators bought the S&P 500 and NASDAQ 100, while adding to shorts in the Russell 2000. The NASDAQ 100 is in a crowded net long.
Large specs sold soybean, corn and wheat in agriculture and metals across the board—copper, for instance, was sold to $0.04 billion notional from $0.9 billion notional last week, according to BofAML analysts, and is testing support near $3.70-$3.60.
In the energy sector, large specs sold crude, heating oil and gasoline, while partially covering natural gas.
Speculators added to their shorts in the euro and yen, while remaining flat in terms of U.S. dollars. Large specs partially covered their shorts in 30-year, 10-year and 2-year Treasuries.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…