Wednesday, 1 April 2015
Last updated 1 hour ago
Jun 26 2012 | 8:41am ET
Bank of America Merrill Lynch’s investable hedge fund composite index was down 0.16% for the month, as of June 20, trailing the S&P 500 which was up 3.46%.
Merger arbitrage funds (up 0.29%) and long/short (up 0.20%) were the best performers for June, while CTA Advisors (down 2.60%) were the worst.
BofAML analyst Mary Ann Bartels says their models show market neutral funds cut net market exposure from 12% to 1% net long while equity long short funds sold market exposure from 30% to 26% net long. Macros partially added to their shorts in the S&P 500, NASDAQ 100, EM, EAFE, commodities and 10-year Treasuries futures while continuing to buy U.S. dollars.
Based on data from the Commodity Futures Trading Commission, Bartels says large speculators this past month bought NASDAQ 100 while partially covering the S&P 500 and Russell 2000.
Agricultural speculators bought corn, added to shorts in wheat, and were flat soybean, which remains in a crowded net long. Metals speculators bought gold, platinum and palladium and were flat silver and copper.
Large speculators in the energy market sold crude oil, bought heating oil and gasoline and added to their shorts in natural gas. Forex specs bought the yen, sold the dollar and partially covered the euro. In the interest rate space, speculators sold 30- and 2-year Treasuries while partially covering 10-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…