- Advertisement -
- Advertisement -

Lyxor upgrades CTAs to slight overweight

- Advertisement -

Stockholm (HedgeNordic) – French asset manager Lyxor has upped its strategic allocation to CTAs according to its most recent weekly brief report. The change is initiated as a result of Lyxor viewing the strategy as a good defensive bet going into the reporting season.

“Overall, we are upgrading CTAs, from neutral to slight overweight. After the market rally in March and ahead of the US earnings season, their defensive portfolio appears to be a good hedge against any disappointment”, Lyxor writes, continuing;

“Meanwhile, their long stance on US fixed income is less aggressive and with 10-Treasury yields near the bottom of the range of the past three years, it seems adequate. They have also reduced their shorts on energy, which is a positive development as the USD depreciation implies upside risks on the asset class.”

In other strategies, Lyxor maintains its slight overweight to merger arbitrage, despite seeing this strategy suffering in the beginning of April as a consequence of the Allergen/Pfizer deal break.

Lyxors Hedge Fund Index suffered losses of 0.7% in the first week of April and is down 2.5% year to date, indicating a difficult start to the year for hedge funds. The only strategy group showing positive returns for the year is CTA, being up 2.2%.

Picture (c): isak55 – shutterstock.com

Subscribe to HedgeBrev, HedgeNordic’s weekly newsletter, and never miss the latest news!

Our newsletter is sent once a week, every Friday.

Jonathan Furelid
Jonathan Furelid
Jonathan Furelid is editor and hedge fund analyst at HedgeNordic. Having a background allocating institutional portfolios of systematic strategies at CTA-specialist RPM Risk & Portfolio Management, Mr. Furelid’s focus areas include sytematic macro and CTAs. Jonathan can be reached at: jonathan@hedgenordic.com

Latest Articles

First Non-Swedish Family Office Investment for Protean Small Cap

Stockholm (HedgeNordic) – About one year after the successful launch of their long/short equity fund Protean Select, Pontus Dackmo and Carl Gustafsson introduced a...

Atlant Högräntefond Leads Peers on Third Anniversary

Stockholm (HedgeNordic) – Around mid-March 2021, Swedish hedge fund boutique Atlant Fonder launched a UCITS-structured fixed-income fund investing in Nordic corporate bonds, drawing from...

Rhenman Welcomes Brummer & Partners Sales Veteran

Stockholm (HedgeNordic) – After close to 18 years as an institutional sales professional at Brummer & Partners, Tom Josephson is set to join healthcare-focused...

Untapped Potential in Symmetry’s Small-Cap Portfolio

Stockholm (HedgeNordic) – Small-cap-focused hedge fund Symmetry Invest has achieved an annualized return of around 20 percent over the past five years and over...

Navigating Asia-Pacific’s Transition to Sustainable Growth

Stockholm (HedgeNordic) – Emerging markets in the Asia-Pacific region, such as China, India, Indonesia, the Philippines, Thailand and Vietnam, have experienced significant economic expansion...

The Performance of US Equities in Election Years Over the Last Century

By Daniel Ung, Kartik Chawla, and Jędrzej Miklaszewski – SPDR: The 2024 US presidential election is on the horizon, and investors are keen to...

Allocator Interviews

Latest Articles

In-Depth: Emerging Markets

Voices

Request for Proposal

- Advertisement -