Wednesday, June 8, 2011

HF Industry Update
  • Positive inflows for the Month of April USD17.5B
  • Assets currently at 1.8 trillion (via trim tab and BarClayhedge)
  • Multi-Strat USD 5.3B, Macro USD 3.0B, Fixed Income USD 1.3B
  • 4 straight months of inflows 

Quote from article above:

“The appetite for bonds appears to be insatiable,” says Vincent Deluard, Executive Vice President at TrimTabs. “Hedge fund investors, ETF investors, mutual fund investors, and speculative traders are piling into the space. This enthusiasm explains why the yield on the 10-year Treasury has plunged to a six-month low.”
The TrimTabs/BarclayHedge Survey of Hedge Fund Managers for May 2011 reveals that managers have turned neutral on US equities. About 30% of managers are bullish on the S&P 500, up from 23% in April, while 29% are bearish, down from 34%. Meanwhile, managers have turned marginally bullish on the U.S. dollar, and 34% plain to increase leverage in the near term."


AC Take:
  • Maintains short term bear on US equities
  • Short term bear on crude long term bear Crude (waiting for production shock - buy on lower support)
  • Dollar definitely has room to fall further; short term bear

Analyze Capital LLC

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