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...The writer is head of global index portfolio management at Franklin Templeton China’s stock market has certainly been battered recently, rattling both consumer and investor confidence....
...The inflows into 11 new bitcoin exchange traded funds that received US regulatory approval in January went into reverse this week....
...The above screenshot is from the FCA’s short position disclosure list (XLS download). The fund, Cadian Capital Management, is a New York long/short TMT equity hedge fund....
...While the short-term performance of the world economy has been surprisingly good, the longer-term performance has been the opposite....
...Global regulators were alarmed by the rise of the US Treasury basis trade, where hedge funds borrow money from banks to bet on the price of Treasury bonds and futures converging....
...In other news, Bill Ackman is closing his much-publicised short position in long-dated Treasuries. Has anyone received more good press out of the Treasury sell-off than him?...
...Fidelity includes Royal London Short Duration Global Index Linked Fund M Inc in its “Select 50” list of recommended investments, saying: “The loans are made over short periods (under five years usually)...
...“People are seeing volatility that they haven’t seen in a long time,” Johnson said....
...The funds, which include those from BlackRock, Franklin Templeton and Invesco, have attracted net inflows of nearly $4bn, according to ETF.com....
...These included a “strategic resilience fund” to secure clean energy supply chains, and even a US sovereign wealth fund to make long-term investments in strategic technologies....
...The rally following the SEC’s long-awaited spot bitcoin ETF approval has been so positive that the net assets in Grayscale’s ETF have nearly recovered since its conversion, which allowed long-term holders...
...The business is an effort to pair the sort of investigative journalism typically done by newsrooms with a long-short hedge fund....
...Big, long-only money is coming into the Japanese market chasing high-quality companies with improving governance standards, exposure to global growth and a “not China” story....
...Bitcoin trading volumes surged on Thursday after the first 10 US exchange traded funds offering direct exposure to the world’s largest cryptocurrency made a long-awaited debut on stock exchanges....
...By the end of the 2020s global growth would slide by more than a percentage point compared with the pre-pandemic average, the fund found....
...Franklin Templeton’s exchange traded funds attracted about $1bn in net inflows in the three months to December 31, lifting total ETF assets to $20bn, 40 per cent higher than a year earlier....
...But an executive at one top long-short fund was less optimistic, saying a widely anticipated fall in global interest rates would hurt the sector....
...The funds’ collective performance also fell short of the $1bn that ProShares pulled in on its first two days after launching a bitcoin futures ETF in October 2021....
...,” says Eric Veiel, head of global investments at T Rowe Price....
...It offers funds of funds that give institutional investors access to private debt, infrastructure and private equity strategies....
...And because stocks go up more often than they go down, “uncorrelated with” for equity long/short funds tends to mean “less than”....
...“It raises short-term risks to the disinflation process, as well as longer-term fiscal and financial stability risks for the global economy,” he said. “Something will have to give.”...
...But that has come with brutal costs for its long-suffering population, writes Valentina Romei....
...This tendency to short-termism also affects the way funds invest....
...These ETFs are suppressing both short-dated implied volatility (via option supply) and realized volatility (as dealers hedge the resulting long gamma positions)....
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