Tuesday, 31 March 2015
Last updated 5 hours ago
Feb 24 2014 | 1:00pm ET
Hedge funds trailed the stock market in the week ended February 19: the Bank of America Merrill Lynch Diversified Investible Hedge Fund Composite Index added 0.51% to the S&P 500's 0.57% gain.
Event-driven funds were the best performers over the monitored period, adding 0.62%.
BofAML analyst MacNeil Curry said market neutral funds increased their market exposure from 3% to 9% net long while equity long/short funds increased their market exposure from 36% to 37% net long, in line with their 35-40% benchmark level.
Macros increased their long exposure to the S&P 500 and went from being short the NASDAQ to being long the tech index. They also went short U.S. dollars and slightly trimmed their U.S. 10-year Treasury shorts while slightly increasing their commodity long exposures and large-cap tilt. Overseas they maintained their short exposure to emerging markets and EAFE.
Commodity Futures Trading Commission data for the monitored period showed large equities speculators reduced their S&P 500 shorts, added to their NASDAQ longs and covered their Russell 2000 shorts.
Agriculture specs increased their soybean and corn longs while cutting their wheat shorts; metals speculators increased their gold, silver, platinum and palladium longs and cut their copper shorts.
Large energy specs increased their crude longs, marginally increased their natural gas shorts and covered their heating oil shorts.
FX specs covered their euro shorts to a net long, reduced their Australian dollar shorts, sold yen and increased their British pound longs.
Interest rates specs cut their 10-year Treasury shorts, marginally increased their 30-year longs and sold 2-year contracts to a net short.
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…