【环球网财经综合报道】据路透社报道，投资者对美国对冲基金的兴趣正在减弱，这是自2023年以来的首次。报道根据巴克莱银行对342名管理总资产7.8万 亿美元的投资者进行的调查，美国和欧洲的投资者表示，今年他们计划增加对美国对冲基金敞口的幅度将比2025年减少5%，同时会将资金更多投向亚洲和 欧洲的基金管理人。 路透社援引巴克莱的报告称，自2024年低点以来，投资者对亚太对冲基金的兴趣增长了一倍。在2025年11月和12月进行的调查中，欧洲投资者告诉该行，他 们向欧洲管理人投入资金的意愿提高了8%。对亚洲对冲基金管理人的兴趣增长了约10%。 受访者称，对冲基金费率仍处于历史高位。传统对冲基金产品的平均管理费和业绩费在2025年达到峰值，而将成本转嫁给投资者的那种类型费率有所下降。 自2023年以来，投资者在总回报中的份额已从约47%上升至56%。报告补充说，投资者今年整体对冲基金回报率也增长了约5%。 巴克莱银行表示，基于宏观经济因素做出投资决策的对冲基金以及系统性交易股票的对冲基金获得了最高的净配置者数量。调查结果显示，股票市场中性是 2026年最受青睐的策略，其次是从2020年以来就一直最受欢迎的量化多策略。 ...

Core Viewpoint - Investors are planning to reduce their exposure to U.S. hedge funds for the first time since 2023, influenced by discussions surrounding the "Sell America" trade [1] Group 1 - The trend of decreasing investment in U.S. hedge funds marks a significant shift in investor sentiment [1] - The discussions about the "Sell America" trade have gained traction, indicating a potential change in market dynamics [1] - This shift could reflect broader economic concerns and changing investment strategies among institutional investors [1]

Core Viewpoint - Lincoln Electric Holdings, Inc. will participate in the Barclays 43rd Annual Industrial Select Conference on February 17, 2026, at 10:25 a.m. Eastern Time, where key executives will present [1] Group 1 - Steve Hedlund, Chairman and CEO, and Gabriel Bruno, Executive Vice President and CFO, will represent the company at the conference [1] - The presentation will be available via webcast on the company's Investor Relations website [1] - A replay of the presentation will also be accessible [1]

Core Viewpoint - Solstice Advanced Materials will participate in the Barclays Industrial Select Conference on February 19, 2026, with CEO David Sewell leading a discussion [1]. Company Overview - Solstice Advanced Materials is a leading global specialty materials company focused on advancing science for smarter outcomes [2]. - The company provides high-performance solutions for critical industries, including refrigerants, semiconductor manufacturing, data center cooling, nuclear power, protective fibers, and healthcare packaging [2]. - Solstice is recognized for developing next-generation materials under renowned brands such as Solstice, Genetron, Aclar, Spectra, Fluka™, and Hydranal™ [2]. - The company partners with over 3,000 customers across more than 120 countries and territories, supported by a robust portfolio of over 5,700 patents and pending applications [2]. - Solstice employs approximately 4,000 people worldwide, driving innovation in materials science [2].

Group 1 - The core viewpoint of the report is that the significant decline in the software industry is transmitting risks to the private credit market through Business Development Companies (BDCs) [1][2] - BDCs have a high concentration of risk exposure in the software sector, accounting for approximately 20% of their portfolios, making them vulnerable to the recent downturn in software stock prices [2] - The software sector has experienced a cumulative decline of about 21% year-to-date, leading to a notable deterioration in the quality of underlying assets [1][2] Group 2 - Financial ETFs and high-yield bond ETFs show a persistent and significant statistical correlation with private credit returns, indicating that the financial sector has not fully priced in the potential risks from the software sector's decline [2] - Despite the weakening BDC index, financial ETFs remain relatively strong, suggesting a possible lag in market adjustments to the emerging risks [2] Group 3 - The report highlights a structural divergence in market volatility pricing, with commodity asset volatility at historically high levels, while fixed income and financial sector volatility remains at historically low levels [4] - The implied volatility for commodities like U.S. crude oil, silver, and gold ETFs is at the 99%-100% historical percentile, reflecting strong market pricing of geopolitical risks and currency devaluation expectations [4] Group 4 - Current market sentiment indicators show extreme polarization, with bearish sentiment concentrated in small-cap and technology sectors, while assets like gold and natural gas exhibit strong bullish expectations [5] - The skewness in options pricing indicates that the cost of downside protection for the Nasdaq 100 and materials sector is significantly high, while oil and gas options are priced more moderately [6] Group 5 - The report identifies high-quality hedging tools for different asset classes, suggesting that high-yield bonds and financial sector put options offer optimal risk-reward ratios for hedging against global equity market risks [7] - For large-cap tech stock downside risks, high-yield bonds and investment-grade corporate bonds provide effective protection, while for commodities, high-yield bonds and energy sector ETFs are recommended [7] Group 6 - The commodity sector is under significant pressure, with its volatility and term structure Z-scores notably above long-term averages, indicating that market pressures are far beyond normal levels [8] - Cross-asset correlations are currently at a high level of 73%, suggesting that the diversification effect of asset allocation is diminishing, while internal correlations within the U.S. stock market remain at a historical low of 2% [8]

Group 1 - United Airlines will present at the Barclays 43rd Annual Industrial Select Conference on February 18, 2026, at 8:40 a.m. EST [1] - Mike Leskinen, Chief Financial Officer, will discuss current trends affecting the business during the webcast [1] - The live webcast will be accessible on the investor relations section of United's website and will be archived within 24 hours [1] Group 2 - United operates the most comprehensive global route network among North American carriers and is the largest airline in the world by available seat miles [2] - The company is traded on the Nasdaq under the symbol "UAL" [2]

Core Insights - Barclays US Consumer Bank is utilizing generative artificial intelligence (GenAI) to enhance customer interactions and improve operational efficiency [1] Group 1: Technology Implementation - The bank is employing GenAI to create comprehensive summaries of customer service interactions [1] - Key details captured in these summaries include the reason for the call, actions taken, and next steps [1] Group 2: Impact on Customer Experience - The AI-generated summaries provide customer service agents with the necessary context to make quick and informed decisions [1]

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: Barclays (BCS) - Barclays currently holds a Momentum Style Score of B and a Zacks Rank of 2 (Buy), indicating a favorable outlook for the stock [2][3] - The stock has shown a price increase of 2.1% over the past week, outperforming the Zacks Banks - Foreign industry, which rose by 2% [5] - Over the last month, Barclays shares increased by 4.84%, while the industry average was 6.18% [5] - In the last quarter, Barclays shares rose by 24.08%, and over the past year, they increased by 87.85%, significantly outperforming the S&P 500, which moved 1.21% and 16.64% respectively [6] Trading Volume - The average 20-day trading volume for Barclays is 4,682,252 shares, which serves as a bullish indicator when combined with rising stock prices [7] Earnings Outlook - In the past two months, three earnings estimates for Barclays have been revised upwards, with no downward revisions, leading to an increase in the consensus estimate from $2.29 to $2.35 [9] - For the next fiscal year, three estimates have also moved upwards without any downward revisions [9] Conclusion - Given the positive momentum indicators and earnings outlook, Barclays is positioned as a 2 (Buy) stock with a Momentum Score of B, making it a potential candidate for investors seeking short-term gains [11]

Group 1 - The issuer of the securities is F.I.S. – Fabbrica Italiana Sintetici S.p.A, with an aggregate nominal amount of EUR 300 million and EUR 470 million [3] - The securities include a fixed-rate senior secured note (SSN FXD) due on February 5, 2031, and a floating-rate senior secured note (SSN FRN) [3] - The offer price for both types of securities is set at 100 [3] Group 2 - No stabilization activities were conducted by the Stabilisation Managers in relation to the securities offer [2] - The Stabilisation Managers include BNP Paribas, Goldman Sachs International, and several other major financial institutions [4] - The announcement clarifies that the securities are not offered for sale in the United States and have not been registered under the U.S. Securities Act of 1933 [5]

Core Viewpoint - The recent significant rally of the Indian rupee, the largest in seven years, may provide the Reserve Bank of India (RBI) with the opportunity to rebuild its foreign-exchange reserves, although this could limit further gains following the India-US trade deal [1]. Group 1: Market Predictions and Strategies - Barclays Bank Plc and Nomura Holdings Inc. predict that the RBI will utilize the rupee's recovery to purchase dollars, with Nomura forecasting the rupee to reach 94 to a dollar by May, while Barclays aims for the same level through a three-month offshore position [2]. - Barclays advises clients to tactically short the rupee, anticipating that the current rally will not be sustainable and that equity outflows will not fully reverse [9]. - MUFG Bank Ltd. recommends clients to build long dollar/rupee positions in the medium term [9]. Group 2: RBI's Intervention and Market Dynamics - The rupee experienced a slight decline of 0.1% to 90.40 against the dollar, following a 1.4% increase attributed to a US tariff cut, which helped it recover from being Asia's worst performer last month to the region's top gainer [3]. - The RBI has a significant negative short forwards book of $62.4 billion as of December, indicating a need to repay these dollars, which contributed to the rupee's underperformance in the second quarter of 2025 [5]. - The RBI sold a net $49.5 billion in dollars in 2025 to support the rupee, while forex reserves reached a record $709 billion, aided by a weaker dollar, rising gold prices, and RBI's forex swaps [6]. Group 3: Future Outlook and Analyst Opinions - Analysts at Societe Generale predict the rupee could strengthen to 87-88 in the coming weeks, while HSBC forecasts a move to 88 by the end of March [10]. - Standard Chartered Plc suggests that while the RBI may eventually rebuild reserves, it seems unlikely at current levels, with HSBC expecting the central bank to allow the rupee to recover in the March quarter before rebuilding reserves [7]. - The RBI's recent interventions have aimed to buy rupees as the currency tested lows, with officials stating that the exchange rate is market-determined and their role is to ensure orderly movements and curb excess volatility [8].