JPMorgan: Sector Rotation Could Hurt Some Hedge Funds Even More

HFA Padded
Mark Melin
Published on
Updated on

It has been mostly a difficult year for active fund managers, a JPMorgan equity strategy report notes, as even quantitative funds in the equity space are finding challenging market environments. Underneath the market structure is a stock sector rotation cycle in flux, moving from the overvalued and popular names to the undervalued. What has resulted is a largely rotation driven activity in a low volatility environment that might favor core value investors. Many funds having difficulty outperforming relative to last year One can make the argument that the active vs passive shift has really been more of a three or...

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Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.