Tuesday, 21 October 2014
Last updated 7 hours ago
Oct 21 2013 | 10:34am ET
The Bank of America Merrill Lynch investable hedge fund composite index is up 0.66% month-to-date for October, trailing the S&P 500 index which has added 2.3% in the same period.
Equity long/short and equity market neutral were the best performing strategies, adding 1.33% and 1.08%, respectively, month to date.
BofAML analyst MacNeil Curry said market neutral funds increased market exposure to 10% from 5% net long in the monitored period as equity long/short increased market exposure to 29% from 28% net long—below their 35-40% benchmark.
Macros increased their long exposure to the S&P 500 and NASDAQ while reducing their long positions in commodities, the U.S. dollar and 10-year Treasuries. They slightly increased their small cap tilt and, abroad, reduced their EM longs slightly while increasing their EAFE shorts.
Once again, reports Curry, data from the Commodity Futures Trading Commission was delayed by the government shutdown.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...