JPMorgan Says More Hedge Fund Outflows To Come; SWFs Also Selling

Watch for more hedge fund outflows to come.

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After the S&P 500 index briefly breached the 2,100 level on Wednesday, touching a high of 2102.40, it has sold off ever since and today ended trading at 2087.79. In this environment, a JPMorgan report shows that managed futures CTAs are only lightly exposed to stocks and “have a lot of room to add equity exposure from here.” Many fund managers are disappointed they missed the recent rally, but even if they catch it and improve performance, it might not matter relative to assets managed as more redemptions could be on the way.

This stock market still has room to run, says JPMorgan...

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