Hedge Funds Up 1.1% To Date In Q4

Nov 25 2013 | 1:47pm ET

Hedge funds have added 1.1% to date this quarter, according to the Bank of America Merrill Lynch investable hedge fund composite index.

Equity market neutral and long/short funds performed best during the monitored period, both adding 2.06%. Convertible arbitrage funds were the worst performers, falling 0.89%.

BofAML analyst MacNeil Curry said market neutral funds reduced market exposure to 3% net short from 8% net short over the monitored period while equity long/short funds reduced market exposure to 10% net long from 14% net long; below their 35-40% benchmark.

Macros further reduced their long exposure to the S&P500 and the NASDAQ, reduced their short exposure to the U.S. dollar, maintained their short exposure to 10-year Treasuries, increased commodity exposure and reduced their preference for small cap. Overseas, they increased their long EM exposure.

Data from the Commodity Futures Trading Commission shows large equities speculators reduced their net longs in the S&P 500 and NASDAQ and increased their Russell 2000 shorts.  

Agriculture specs increased their soybean longs and their wheat shorts while reducing their corn shorts. Metals specs reduced their gold and silver longs, increased their copper shorts and cut their palladium and platinum longs.

arge energy speculators slightly increased their crude and RBOB longs while reducing their natural gas and heating oil shorts.

FX specs reduced their euro longs, increased their yen shorts, reduced their British pound shorts and maintained a small Mexican peso long.

Interest rate specs slightly reduced their 10-year Treasury shorts, reduced their 30-year longs to a net short and increased their 2-year longs.


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.