Our other sites

  • Lyxor ETF

    A pioneer in the ETF market since 2001, Lyxor is one of Europe's largest ETF providers, offering investors more than 220 ways to explore the markets.
  • Lyxor FUNDS

    The Lyxorfunds website allows you to find out more about the Lyxor funds range, its documentation, market and product news.
  • MYLyxor MAP

    MyLyxorMAP website is dedicated to the Lyxor Managed Account Platform (MAP). It offers access to a comprehensive range of managed accounts, providing transparency, liquidity and independent risk management. It may also include other funds managed by Lyxor.
  • Lyxor JAPAN

    Corporate information on Lyxor Asset Management Japan Co. Ltd. , its publicly offered domestic funds, and general information in Japanese about Lyxor.
Date
Catégorie
Research

Hedge Fund Positioning After The Storm

Premier paragraphe

While there have been positive points since end-December—the market rebound amid trade tensions easing, promising Brexit developments, a softer stance from major central banks, etc.—signs still point toward ongoing growth deceleration. As we take the pulse of the hedge fund space, we find caution remains the keyword and only one major exception where risk has been added to portfolios.

Image détail
1.	Hedge Fund Positioning After The Storm
Contenu

While there have been positive points since end-December—the market rebound amid trade tensions easing, promising Brexit developments, a softer stance from major central banks, etc.—signs still point toward ongoing growth deceleration. As we take the pulse of the hedge fund space, we find caution remains the keyword and only one major exception where risk has been added to portfolios.

The positioning of CTAs and Global Macro strategies on equities remain very cautious at present, while long Fixed Income positions have increased over the past few weeks. Merger Arbitrage strategies have been highly selective with regards to allocating capital to recently announced deals. 
 
L/S Equity strategies reduced their beta in late 2018 and remain broadly cautious now. Market Neutral strategies have also reshuffled their portfolios. The January market rebound, which was led by value stocks, still had a positive impact on L/S Equity performance overall.
 
Finally, L/S Credit strategies are among the few that took advantage of deteriorated market conditions to add risk to portfolios in late December. The sharp widening in HY credit spreads was seen as an opportunity, and the strategy experienced a decent rebound in January, especially directional strategies.
 

FIND OUT MORE