The first of three highly anticipated keynote speeches came
from Tim Tacchi, the veteran global macro hedge fund manager
and founder of TT International, who provided an insight into
his firm’s investment process before expressing
some gloomy views on the macro outlook.
Tacchi’s experience of running hedge funds in
Europe is unparalleled. He set up his own firm back in 1988,
initially running hedge fund money for George Soros, and
launched the flagship macro TT International Fund in August
This makes it the indigenous European hedge fund with the
longest track record on the EuroHedge database. Since 1994 the
fund has had just one down year, in 2008, when it lost a mere
45 basis points – and it has produced a very solid
annualised return over almost 22 years of just under 10%.
TT International – which now runs $18.7 billion of
assets, of which some...