Hedge Funds Cut Back Net Exposure

Despite stock market gains, hedge funds are starting to turn down the risk, a prime broker finds.

Hedge funds have been reducing their bets on the stock market this month even as the equity markets continue to climb.

Perhaps spooked by the increase in volatility, equity clients of JPMorgan’s prime brokerage arm cut their net exposure by 1.78 percent in the most recent week tracked by the New York bank.

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