Macro funds miss dollar rise

Fri Oct 1, 2004

A poor first half for most of the big players prompts talk of a new approach

Some investors are calling it the macro paradox. And it goes something like this: Just at a time when macro funds seemed poised for a renaissance of sorts, positioned to grab a bigger share of a deepening inflow of institutional assets because of perceived capacity constraints in other strategies, macro returns have widely failed to impress thanks to 2004's choppy markets.

As a group, macro funds on the whole lost about 0.3% in August leaving them up a meek 1.2% on the year - the worst showing of any hedge fund category, save managed futures which was down double digits over the same period, suffering from the same lack of sustained trends and sharp reversals in a broad array of markets.

Some of the rising stars of macro have fared badly this year....

ISSN: 2151-1845 / CDC10004H


The full contents of this article are available to active AR subscribers and trialists only.

To continue reading please,
take a free trialsubscribe or log in to AR.


Subscribers have unlimited access to all current and archive content. Start your subscription today - click on the button below.

Subscribe now

Popular Searches on HFI