Macro winners lock onto volatility as Eurozone uncertainty lingers on


The Eurozone crisis, together with fears over US and Chinese growth, led to a sell off in risk assets. While long equities and energy positions hurt some in this sector others were able to post gains during a very difficult month.

The standout performer in the sector during the month was HSBC Trading AdvantEdge, which was up 3.62% to take year-to- date figures to 1.14%. Six of the nine underlying managers in the portfolio were profitable on the month. The largest contributor was a long-term trend follower which amassed double digit gains largely in long duration bonds, while