Saturday, 28 March 2015
Last updated 1 day ago
Jul 16 2013 | 10:18am ET
The Investable Hedge Fund Composite Index was up 0.67% for the month as of July 10, according to the latest Bank of America Merrill Lynch Hedge Fund Monitor.
Equity long/short and event driven funds were the best performers, adding 1.39% and 1.21%, respectively. Equity market neutral funds performed worst, falling 0.40%.
BofAML analyst MacNeil Curry said their models indicated market neutral funds had reduced market exposure to 12% net long from 14% net long while equity long/short funds kept market exposure steady at 37% net long; in line with the 35-40% benchmark level.
Macro funds reduced their long exposures to the S&P 500 and NASDAQ 100 index and their long positions in commodities, while continuing to reduce their U.S. dollar index exposure. Ten-year Treasuries moved to a net short for the first time since May. Overseas, they covered their EM shorts and added to their EAFE shorts.
Data from the Commodity Futures Trading Commission showed large equities speculators increased their net longs in NASDAQ 100 and Russell 2000, but sold the S&P 500 out of a crowded long.
Agriculture specs sold corn to a net short for the first time since 2005, added to wheat shorts, and were essentially flat in soybeans while metals specs sold gold, slightly bought silver and were essentially flat in copper, platinum and palladium.
Large energy specs bought crude oil and gasoline, were flat natural gas and partially covered heating oil.
FX specs added to their euro shorts, bought the U.S. dollar index and added to their yen shorts. Interest Rates specs sold 2-year Treasuries, partially covered 30-year Treasuries and added to their 10-year Treasuries shorts.
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…