Hedge Fund and Mutual Fund Equity Exposure Reflecting optimism in the current economic climate, hedge funds and mutual funds have collectively increased their stakes in equities, indicative of a broader market preference for stocks. Image: Goldman Sachs Global Investment Research
Hedge Fund Gross Leverage While the trend shows a reduction in equity exposure from hedge funds ahead of the U.S. election, the outlook post-election appears optimistic, with expectations of a market rebound as investor sentiment improves. Image: Goldman Sachs Global Investment Research
Hedge Funds – Net Buys Hedge funds continue to hit the sell button, resulting in significant outflows over the past 3 months. Image: BofA Securities
Hedge Funds’ Cyclical vs. Defensive Positioning During economic expansion, investors favor cyclicals over defensives. The current low hedge fund exposure to cyclical vs. defensive sectors may present a potential opportunity for contrarian investors. Image: BofA Global Research
Equities – Hedge Fund Client Four Week Average Net Flows Last week, BofA’s hedge fund clients were net buyers of equities for the first time in 10 weeks. Image: BofA Securities
U.S. Dollar Exposure of Currency Hedge Funds Will hedge funds turn bullish on the U.S. dollar? Image: J.P. Morgan
Hedge Fund Net Leverage Aggregate hedge fund net leverage remains high compared to the average level. Image: Goldman Sachs Global Investment Research
Antifragile Assets – 10-15Y Government Bonds, HFR Hedge Funds Index and Gold, Total Returns Should investors favor Chinese government bonds? Image: Gavekal, Macrobond
Rolling 6-Month Excess Return of Hedge Fund VIPs vs. S&P 500 The most popular hedge fund long positions have largely underperformed the broader market over the past 12 months. Image: Goldman Sachs Global Investment Research
Global Macro Hedge Funds’ Net Exposure to U.S. 10-Year Treasury Bond In terms of positioning, global macro hedge funds are currently long U.S. Treasuries. Image: Nomura
Hedge Funds and Systematic Investor Positioning Hedge funds and systematic investor positioning is low in a long-term historical context. Is any market pullback a buying opportunity? Image: J.P. Morgan Quantitative and Deratives Strategy