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Market turmoil brings hedge fund stock-pickers to the fore

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New prime broker data compiled by Goldman Sachs Group shows that hedge fund managers were big buyers of individual company stocks in February, according to a report by Business Times.

Partly prompted by the market chaos caused by Russia’s invasion of neighbouring Ukraine and concerns over inflation, net purchases of single stocks reached the highest level in the past year, says the report, as managers turned to their stock-picking skills to identify bargain basement shares.

Hedge funds tracked by Goldman focused on tech stocks and bearish bets on macro products, according to the report, with Short sales on ETFs, for instance, jumping 12 per cent in February.

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