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Hedge Funds Boost Shorts as Gains in March Reward Caution

March 27, 2019 : Permanent Link

(Bloomberg) The skepticism of hedge funds in the face of this year’s gravity-defying stock rally has been paying off this month. With net exposure at the lowest since 2017 as bearish positions expanded, equity long-short funds on Credit Suisse Group AG’s prime brokerage platform have gained 2 percent in March through Friday, compared with a 0.6 percent rise in the S&P 500. “Both stock selection and the recent shift in net positioning have contributed to hedge fund outperformance as growth concerns prompt central bank accommodation, curtailing the rally in risk assets,” Mark Connors, global head of risk advisory at Credit Suisse in New York, wrote in a note.

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