Monday, 30 March 2015
Last updated 9 hours ago
Aug 12 2013 | 12:59pm ET
Hedge funds were up 0.24% for the first week of August, according to the Bank of America Merrill Lynch Investable Hedge Fund Composite Index.
Convertible arbitrage and equity long/short funds were the best performers, adding 0.41% and 0.31%, respectively. Market neutral strategies performed worst, falling 0.36%.
BofAML analyst MacNeil Curry said their models showed market neutral funds raised market exposure to 6% net long from 5% net long during the monitored period. Equity long/short funds also increased market exposure—to 40% from 38% net long in line with the 35-40% benchmark level.
Macros bought the S&P 500 and slightly increased their NASDAQ 100 longs but reduced their long positions in commodities. In addition, they sold the U.S. dollar index out of a crowded long, and partially covered their 10-year Treasury shorts. Overseas, they increased both EM and EAFE exposures.
Data from the Commodity Futures Trading Commission showed large equities speculators marginally increased their net long positions in the S&P 500 and NASDAQ 100 but reduced their longs in the Russell 2000.
Agriculture specs sold soybeans, marginally covered corn shorts and were flat wheat while metals specs aggressively bought gold, bought platinum and palladium, were flat silver and partially covered copper shorts.
Large energy speculators bought heating oil, marginally bought crude oil, sold gasoline and added to their shorts in natural gas.
FX specs bought the euro aggressively to a net long, remained flat the U.S. dollar and marginally covered their yen shorts. Interest rate speculators bought 2-year notes, aggressively sold 10-year Treasuries to a net short and halved their 30-year Treasury 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…