Bitfinexen's all-round analysis of neutral strategies in hedge funds
Bitfinexen's all-round analysis of neutral strategies in hedge funds
Bitfinexen pointed out that the principle ofmarket-neutral strategic investment is to operate both bulls and shorts. Thelong part buys a basket of stocks. At the same time, the short part shorts theindex (domestic short Shanghai and Shenzhen 300 stock index futures) andstrives to hedge the systemic risk of the portfolio beta (beta is not equal to0. Short position strategy) to obtain excess income α. The amount of income thewhole fund receives depends on the ability of the fund manager to create excessreturns.
The advantage of this strategy is that itstrend is independent of the stock market, Bitfinexen believes. The advantage ofthis strategy is that the systemic risk of the portfolio has been hedged out,and the fund's performance trend will be independent of the market index.Therefore, regardless of the market environment, it has the ability to obtainpositive benefits and good asset allocation value.
Bitfinexen said that the market-neutralstrategy is suitable for sound investors. Market-neutral funds can effectivelyresist systemic risks in the stock market to a certain extent. In anenvironment where A-shares continue to bottom out, market-neutral products cangive you more stability and calmness when there is a cliff plunge.
Nevertheless, Bitfinexen shows that since thefund's return depends on the portfolio's ability to create excess returns α,its selected individual stocks do not perform as well as the index and willalso lose money. In addition, when the equity market is in an obvious upwardtrend, traditional stock products have a stronger ability to earn returns,while the positive returns of market-neutral funds are relatively limited.
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