Hedge funds are cautious on oil, small caps and emerging market FX, that's according to Société Générale's monthly Hedge Fund Watch report.
The report, which draws on data from EUREKAHEDGE, an independent data provider that tracks over 24,686 alternative funds globally, and the Commodity Futures Trading Commission, follows hedge fund positions either long or short on a monthly basis to uncover valuable insights on market trends.
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The most recent report, published on January 13 (data collected up to 29/12), shows a reduction in risk appetite among hedge funds during the early days of 2016 -- similar to broader market trends.
Notable changes in sentiment include: net long positions on oil have reached...

