(Opalesque) The dominance of speculative drivers early this year would keep on unsettling long fundamental strategies, either forcing to stay on the sidelines or to take reckless risks, Lyxor said in its weekly brief.”We downgraded L/S Equity strategies that show high market exposure and sensitivity to Momentum. We also downgraded Special Situation strategies to Neutral, skeptical that fundamental rationales will be rewarded in the short-term,” the report said. Overall, alternative strategies appear attractive but dispersion across strategies might be high, it said.
Lyxor maintains overwight on merger arbitrage, says it should perform
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