From 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….
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