Shrinkage! According to finalternatives market neutral, equity long/short and macro hedge funds all
reduced their market exposure in May, as hedge funds gained 0.38% on average,
according to the latest Bank of America Merrill Lynch Hedge Fund Monitor. Event
driven and equity long/short funds were the best performers in May, adding
2.06% and 1.08%, respectively. Managed futures, down 2.96%, was the
worst-performing strategy….
BofAML analyst Stephen Suttmeier says their models show
market neutral funds reduced market exposure from 6% net short to 9% net short
while equity long/short funds cut market exposure more aggressively, to 21% net
long from 32%, well below the 35-40% benchmark level…..
No comments:
Post a Comment