GREENWICH, Conn. (HedgeWorld.com)–Hedge fund managers have turned decidedly bearish in their outlook for equities in May, according to the VAN Macro Sentiment Indicators, issued by Van Hedge Fund Advisors International LLC.
Of the managers reporting, 63% have a bearish view of the Standard & Poor’s 500 stock index for May. That’s up sharply from the 39% who were bears in their April outlook. For this month, just 26% are bullish–down from 44% in April–and 11% are neutral.
The survey totals responses monthly from 20 to 30 managers who oversee approximately US$30 billion in assets. Previously, John Van, chief financial officer for Van Hedge Fund Advisors, noted that the sentiment indicators provide a glimpse of managers’ outlook at the beginning of the month and could reflect short-term views and possibly either short-term or core positions.