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Last updateSat, 29 Jul 2017 12am

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Event Driven Hedge Funds–Best Performing for 2014 1H

According to HSBC’s Alternative Investment Group, Pershing Square International, an event-driven fund – which make bets around corporate events such as mergers and acquisitions, with 23.3% return till end of June, is the best-performing hedge funds.  Other similar event-driven funds such as Tyrus Capital Opportunities Fund, the Trishield Special Situations Fund and Mudrick Distressed Opportunity Fund, registered 18.1%, 15.3% and 15% respectively.  The wider hedge fund is up 1.6%, according to Hedge Fund Research.

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US Junk Yield at terrifying lows

As of 2014-06-20, the yield on Moody’s composite speculative-grade bond index fell to a record low 4.93%, an area, Moody’s economist John Lonski calls “terra incognita”.  The spread between speculative-grade bonds and US Treasuries fell to 3.21 percentage points – the thinnest since 2007-07-12.

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Norway’s Oil Fund Sold Equities in Q4 2013

Norway’s oil fund, the world’s largest sovereign wealth fund with AUM of $840 bn, cut its exposure to equities significantly in the last three months of 2013 from 63.6% to 61.7%.  The fund delivered 15.9% last year, where its equities portfolio generated 26.3%.  The overall performance is second only to 2009 since the fund was launched 18 years ago.

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吉姆·奥尼尔 (Jim O’Neil), 高盛集团前首席经济学家、“金砖国家”(BRIC) 概念提出者对新兴市场国家近期被“货币表现不佳、股市低迷、资金遭遇外流潮”等负面消息笼罩表示:“我不知道为什么人们对新兴经济体有那么多负面议论。我想,他们可能被局部现象迷惑了。”  奥尼尔仍看好“金砖国家”经济前景,并坚信中国在2027年经济总量将超过美国。对于一些评论家将新兴市场的现状与1997年-1998年的金融危机相提并论,他认为这种类比非常离谱。

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Soros & Hedge Funds Turn Bearish on S&P 500

Soros Fund Management has doubled up a bet that the S&P 500 is heading for a fall.  The value of that holding, the biggest position in the fund, has risen to $1.3 billion from around $470 million, making up 11.13% chunk of all reporting holdings…According to Bloomberg, for the first time since September 2012, Hedge funds and other large speculators have been net short for the last two weeks on S&P index futures with concerned that emerging-market turmoil and signs of slower growth will drag equities down.  In the week ended 2014-02-21, based on the price of the futures contract, that amounted to a notional value of about $5.6 billion in bets against the index.

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