Tuesday, 31 March 2015
Last updated 7 min ago
Jul 9 2013 | 9:34am ET
The global diversified hedge fund index was up 0.13% in Q2 2013, according to the latest Bank of America Merrill Lynch Hedge Fund Monitor.
Short biased funds were the best performers in June, adding 0.97%, followed by equity market neutral funds, up 0.13%. Managed futures turned in the worst performance of the month, falling 3.41%.
BofAML analyst MacNeil Curry said their models indicated that market neutral funds increased market exposure to 14% net long from 11% net long during the monitored period while equity long/short raised market exposure to 37% net long from 28%; returning to their 35-40% benchmark level.
Macro funds increased their long exposures to the S&P 500, NASDAQ 100 index and commodities, while continuing to reduce their exposure to 10-year Treasuries and the US dollar index from a crowded long. Overseas, they reduced EM longs and partially covered their shorts in the EAFE markets.
Commodity Futures Trading Commission data reveals large equities speculators doubled their net long in the Russell 2000 and were essentially flat the S&P and NASDAQ 100.
Large agriculture specs reduced soybean longs, aggressively reduced corn longs and added to wheat shorts while metals specs sold gold, bought silver, partially covered copper shorts and were flat platinum and palladium.
Energy specs bought crude oil, partially covered natural gas and heating oil and were essentially flat gasoline.
FX specs sold euros, bought the US dollar index, and added to their yen shorts as interest rate specs bought 2-year Treasuries, partially covered 30-year Treasury shorts and sold 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…