Tuesday, August 10, 2010
TrimTabs/BarclayHedge Survey of Hedge Fund Managers
The topical study from the August 2010 issue of The Hedge Fund Flow Report. Gain insight into industry trends and hedge fund asset flows before you make your next important decision.
- Hedge fund managers are neutral to bullish on equities following two months of bearishness. About 34% of the 99 hedge fund managers we surveyed in the past week are bullish on the S&P 500, up from 19% in June. Our sentiment figures seem to match changes in short interest. NYSE short interest decreased 4.9% between June 15 and July 15 after increasing steadily between May 1 and June 15.
- Sentiment on Treasuries and the U.S. dollar index has reversed. Hedge fund managers were bearish on 10-year Treasuries and bullish on the greenback in our two previous surveys, but they are currently neutral to bullish on Treasuries and neutral to bearish on the dollar. A shift in economic expectations drove the reversal, as the managers who expect the U.S. economy to double-dip are much more bullish on 10-year Treasuries.
- About 75% of managers plan to hold leverage steady in the next month, while 14% aim to increase it and only 11% expect to decrease it. We believe fear of redemptions might have managers hesitant to lever up. Hedge fund investors redeemed $6.2 billion in June, and the latter half of the year historically delivers outflows. . . .
Accredited investors can read the entire article for free.
From the August 2010 issue of The Hedge Fund Flow Report. The Hedge Fund Flow Report combines the accuracy of the BarclayHedge database with the analytical insight of TrimTabs Investment Research. The report is generated by TrimTabs Investment Research using the most current data on thousands of hedge funds. An annual subscription includes 12 monthly updates as well as a spreadsheet containing historical flow aggregates by category.
To download a free sample of the entire TrimTabs Hedge Fund Flow Report, simply fill out this short request form.
Copyright © 2010 by Barclay Hedge
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