Hedge Funds Add 1.27% MTD

Jul 23 2013 | 8:25am ET

Hedge funds are up 1.27% month-to-date in July, according to the Bank of America Merrill Lynch's Investable Hedge Fund Composite Index.

Equity long/short and event-driven funds performed best, adding 2.65% and 1.99%, respectively. The worst performers were CTA advisors, losing 0.08%.

BofAML analyst MacNeil Curry said their models indicate market neutral funds reduced market exposure to 11% net long from 12% net long over the monitored period while equity long/short funds increased market exposure to 44% net long from 37%; above the 35-40% benchmark level.

Macro funds reduced their long exposures to the S&P 500 and NASDAQ 100 index, increased their long positions in commodities, slightly bought the U.S. dollar index and added to their 10-year Treasury shorts. Overseas, macros added to their EM longs and maintained their EAFE shorts.

Commodity Futures Exchange Commission data for the monitored period shows large equities speculators increased their net longs in the S&P 500, NASDAQ 100 and Russell 2000 while agriculture speculators bought soybean and corn and partially covered wheat.

Metals specs bought gold, platinum and palladium while partially covering copper shorts. Energy specs bought crude oil and gasoline, added to their natural gas shorts and partially covered heating oil.

FX speculators partially covered their euro shorts, were flat the U.S. dollar index and added to their yen shorts while interest rate specs sold 2-year Treasuries, added to their 30-year Treasury shorts and bought 10-year treasuries.


In Depth

High Time For A Cannabis Hedge Fund?

Sep 30 2014 | 7:07am ET

Launching a hedge fund is always a gamble, but Leslie Bocskor's decision to launch...

Lifestyle

Griffin Donates $1M To Rauner's Illinois Gov. Campaign

Sep 22 2014 | 9:29am ET

Hedge fund billionaire Kenneth Griffin definitely has a dog in this fight. The Citadel...

Guest Contributor

Appraisal Ratio Key To Evaluating Hedge Funds And Other New Investments

Sep 29 2014 | 3:07pm ET

As a former finance professor Peter Hecht experiences heartburn every time he hears...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

September 2014 Cover

High frequency market making

High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.