高盛： 3 月全球对冲基金表现与持仓

智通财经网2025-04-18

3 月市场综述受美国关税政策引发的 GDP 增长放缓和通胀担忧影响，2025 年第一季度市场以逆转收官。2024 年推动指数回报的大型科技股在 2 月底开始下跌，并持续至 3 月，导致标普 500 指数较年初高点下跌逾 10%。尽管市场波动，标普 11 个板块中有 7 个年初至今保持正收益，防御性股票表现优于大盘。亚洲和欧洲市场第一季度回报也强于美国，多个指数单季收涨。随着衰退担忧和美联储降息预期...

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月量化策略回报的主要阿尔法贡献因素包括资产选择、拥挤度(多空持仓)、波动率、中国市场、板块配置(金融和可选消费)、日本市场及盈利收益率。受市场贝塔拖累，基本面股票多空策略表现不佳;美国和欧洲基金经理表现弱于亚洲同行。当月全球基本面股票多空策略净持仓下降，而总持仓略有上升，因基金经理增加了空头头寸。（数据截至4月14日）","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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