Institutional investors sent dichotomous signals in their positioning leading up to the election of Donald Trump. While hedge funds moved to establish risk-on positions – establishing notable long Trump trade exposure in S&P 500 futures contracts, for instance — it was more conservative institutional investors who ran from the election, embracing a risk-off stance. This occurred as managed futures CTA and CPO strategies piled into the industrial metal copper, a Bank of America Merrill Lynch report noted.

Also see Q3 2016 hedge fund letters

Login needed to read rest of article

Please login to view the rest of this article - Not subscribed? Get our adfree exclusive content for only a few dollars a month.

It also helps us fund our operations so think of it as supporting quality journalism.