Funds Reduce Exposure Amid Euro Zone Crisis

Hedge funds across strategies are decreasing their net exposures and increasing their cash levels, as the European debt crisis drives managers to protect capital.

Net exposure among global equity long/short managers decreased to 13 percent in June, the lowest level in five years, from 22 percent in May, according to a JPMorgan chase & co. prime brokerage report dated July 12 that was obtained by Bloomberg.

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