Hedge fund investors don’t buy the idea that the U.S. economy is headed for a recession in the near term, according to data from Goldman Sachs
The bank studied the holdings of 835 hedge funds with $2.1 trillion of gross equity positions at the start of July, and found that overall these funds are overweight cyclical sectors, favoring stocks in Information technology, consumer discretionary, industrial and materials sectors relative to the Russell 3000 index, according to a research report published Tuesday evening.
Meanwhile hedge fund managers were underweight stocks in sectors typically seen as defensive , like real estate, consumer staples and utilities. They were, however, overweight the health care sector, also seen as defensive, as they took advantage of the market’s fears of Medicare-for-all and other legislation being debated in the Democratic presidential primary contest, according to Ben Snider, equity strategist at Goldman.
While funds have cut back on leverage since the beginning of July, as concerns over the yield curve and signs of rising trade policy tensions mounted, leverage remains elevated relative to the average level over the past five years.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
GOLDMAN SACHS: These are the 12 stocks most loved by hedge fundsThe firm's 'Hedge Fund VIP List' consists of the stocks that appear most frequently in hedge funds' top 10 holdings each quarter.
Leer más »
GOLDMAN SACHS: Recession fever has put hedge funds' most beloved stock trades in the crosshairs of disaster. Here's how to safeguard yourself from big losses.Hedge funds have become 'particularly vulnerable' to a market downturn as recession fears hit a fever pitch, Goldman warns.
Leer más »
Hedge funds have already seen nearly $20 billion more in outflows this year than in all of 2018Hedge funds lost $8.4 billion through investor outflows in July, hitting a net withdrawal of $55.9 billion year-to-date.
Leer más »
GOLDMAN SACHS: Recession fever has put hedge funds' most beloved stock trades in the crosshairs of disaster. Here's how to safeguard yourself from big losses.Hedge funds have become 'particularly vulnerable' to a market downturn as recession fears hit a fever pitch, Goldman warns.
Leer más »
GOLDMAN SACHS: These are the 12 stocks most loved by hedge fundsThe firm's 'Hedge Fund VIP List' consists of the stocks that appear most frequently in hedge funds' top 10 holdings each quarter.
Leer más »
Hedge funds have already seen nearly $20 billion more in outflows this year than in all of 2018Hedge funds lost $8.4 billion through investor outflows in July, hitting a net withdrawal of $55.9 billion year-to-date.
Leer más »