Monday, 1 September 2014
Last updated 3 days ago
Aug 22 2012 | 9:32am ET
Bank of America Merrill Lynch’s investable hedge funds index is up 0.25% month-to-date.
The best performers, as of August 15, were equity long/short funds, up 1.05% while the worst performers were CTAs, which were flat.
BofAML analyst Mary Ann Bartels says market neutral funds bought market exposure to 2% from 0.5% net long during the monitored period while equity long/short increased market exposure to 28% from 26% net long. Macros continued to cover the S&P 500 and 10-year T-notes while buying U.S. dollars, increasing EM and EAFE exposures, partially covering their shorts in NASDAQ and buying commodities to a slight net long. Macros switched to favor large-cap stocks last week.
A look at data from the Commodity Futures Trading Commission shows large speculators were selling the S&P 500, buying the NASDAQ 100 and adding to their shorts in the Russell 2000.
Agricultural speculators bought soybeans and corn but sold wheat. Metals speculators bought silver and sold gold while remaining flat copper, platinum and palladium. Energy specs sold crude, partially covered natural gas and bought heating oil and gasoline.
Forex speculators added to their shorts in euro, were flat U.S. dollars and bought the yen. Large speculators sold 30- and 2-yr Treasuries while buying 10-year Treasuries.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...