近九成阳光私募今年负收益,12月期银未平仓合约减少1477手

We have changed our recommendation on the LatAm Oil & Gas (Energy)
sector tomarket weight from overweight, following the recent sharp
decline in internationaloil prices (Brent -17% in one month to
USD~44/bbl and at 7-month lows), aswe believe our prior assumption that
(Brent) oil prices would be range boundbetween USD45/bbl-USD55/bbl may
prove overly optimistic as prices seem tohave settled in the lower bound
of that range. Furthermore, following the strongperformance in LatAm
energy corporate bonds during the last 12 months, wethink this may be a
good time for investors to trim exposure and take profitson the sector.
Positively, we believe that LatAm energy companies can sustainlower oil
prices for some time due to half-cycle breakevens in the USD20/bblhandle
(Brent equivalent) but further and/or prolonged weakness in oil
pricescan jeopardize credit profiles due to full-cycle (post sustaining
capex) breakevensabove USD45/bbl. High indebtedness and funding needs at
Petrobras and Pemexand lack of meaningful oil resources at Ecopetrol are
also important sources ofconcern, despite strong implicit government
support for these SOE credits. Wesee YPF as the least sensitive among
large LatAm energy credits to the oil pricedrop, followed by Pemex,
Petrobras and Ecopetrol, and thus have reaffirmed ourBuy recommendation
on YPF ’25s and Sell recommendation on ECOPET ‘25s and‘45s and PEMEX
perps, while downgrading ECOPET ‘26s and ‘43s to Sell (fromHold) and
PETBRA ‘21s and ‘22s to Hold (from Buy). See our report on
CorporateCredits for details.

  FX168财经报社(香港)讯
截至北京时间04:59,10月14日纽约商品交易所(COMEX)2016年12月期银成交量为52692,10月14日未平仓合约减少1477手。

  堪比2008年,阳光私募今年业绩全线败退。接近九成阳光私募今年以来收益为负,还有62只产品亏损幅度逾20%。

  (单位:美元/盎司)

  根据朝阳永续最新统计数据显示,今年以来收益为负的阳光私募约为840只,占到纳入数据统计的阳光私募产品的近九成。更有62只阳光私募产品累计单位净值下跌20%(含)以上,而2010年累计单位净值下跌超过20%仅有7只,2009年跌幅最大的阳光私募,也仅下跌12%。

 日期 商品 尾盘报价 前日收盘 成交量 10月14日未平仓合约 未平仓增减
 10月14日 12月期银 17.42 17.458 52692 149380 -1477

  私募排排网李春瑜微博上表示,最近私募面临巨大的压力,感觉要比2008年金融危机时还大。阳光私募面值以下的产品遍地都是,有的甚至在短时间内跌到了“7毛”,很难面对客户。他还表示,若目前市场跌势不改,赎回潮将会让私募管理人更加难过。

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