Wednesday, 1 April 2015
Last updated 1 hour ago
Jan 14 2013 | 1:14pm ET
Hedge funds are levering up in the new year to levels not seen in eight years or more.
Leverage among long/short equity hedge fund managers is higher now than at any point since at least 2004, according to Morgan Stanley. The increasing friskiness of hedge fund managers—who largely missed out on last year's stock-market rally—can also be seen in margin debt offered by New York Stock Exchange brokers, which hit a nearly four-year high in November.
Gross hedge-fund leverage was 153% in the week ended Jan. 4. That's up 10% from a year earlier and from the industry's eight-year average and 1% from last year's average.
It's clear that hedge funds and other market players are confident that stocks will continue to rise this year: Long bets on Standard & Poor's 500 Index futures hit a nearly four-year high at the beginning of the month.
"Indicators are bullish and equity hedge funds are jumping on the bandwagon, thinking now is a good time to have more exposure to the market," Barclays hedge fund consulting chief Anurag Bhardwaj told Bloomberg News. "That's a good thing for the market overall."
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…