Courtesy of YahooFinance

Hedge Fund Sulit Kejar Reli Saham AS saat Trump Tunda Tarif

To report on the performance of global equities long/short hedge funds during a volatile period in the stock market.

11 Apr 2025, 05.03 WIB

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Ikhtisar 15 Detik

Hedge funds tidak dapat memanfaatkan lonjakan pasar saham karena posisi short yang meningkat.
Pengumuman penangguhan tarif oleh Trump memicu reaksi pasar yang signifikan.
Hedge funds terus mengurangi risiko dengan memotong posisi leverage mereka.

New York, United States - Hedge funds missed out on a significant rally in U.S. stocks triggered by President Donald Trump's pause on some tariffs for 90 days. Despite this, they managed to limit their losses during the subsequent sell-off. On April 9, global equities long/short hedge funds were up 0.98%, while the S&P 500 index soared 9.5%. U.S. hedge funds posted higher gains, up 2.28%, but still underperformed the index.

These funds turned negative on Thursday as the S&P 500 slumped 3.5% and the MSCI World index fell 1.2%. Hedge funds underwent the largest selling on a net basis in almost 15 years a week ago, while also turning the most bearish since 2011. With a reduced portfolio of long positions, hedge funds did not take much advantage of the rally but managed to avoid oversized losses in Thursday's plunge.

According to Goldman Sachs, hedge funds bought U.S. equities at the largest notional value in more than a decade on Wednesday due to short covering in macro products. Despite the volatility, equity hedge funds are outperforming the S&P in 2025. Year-to-date through April 10, global fundamental long/short funds were down 4.3%, while the S&P 500 dropped 10.4% in the same period.

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Analisis Kami: Strategi hedge fund yang mengurangi leverage dan menutup posisi short adalah reaksi logis terhadap ketidakpastian pasar yang sangat tinggi saat ini. Namun, hal ini juga menunjukkan bahwa meskipun hedge fund berusaha melindungi modal, mereka mungkin kehilangan peluang keuntungan besar jika pasar tiba-tiba bergerak positif secara signifikan.

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Analisis Ahli:

Jon Caplis: Pembelian besar-besaran ekuitas oleh hedge fund adalah efek langsung dari penutupan posisi short yang dipicu oleh pengumuman penundaan tarif Presiden Trump.

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What's Next: Hedge fund kemungkinan akan tetap konservatif dalam mengelola portofolio mereka tahun ini dengan mengurangi leverage dan fokus pada manajemen risiko menghadapi ketidakpastian ekonomi yang masih tinggi akibat kebijakan perdagangan global dan faktor eksternal lainnya.

Referensi:
[1] https://finance.yahoo.com/news/hedge-funds-miss-most-relief-220350647.html