Hedge Funds

All systems go as Harmonic Capital rejig powers big resurgence in macro returns


Following a major overhaul of its investment and risk processes in 2007, quant long/short global macro manager Harmonic has been on a roll – with strong returns in 2010 fuelling increased institutional asset inflows

(Left to right): Patrick Safvenblad, David Pendlebury, Alastair Smith and Richard Conyers

Many hedge fund groups have had to make sweeping changes to their investment, risk and business management practices over the past couple of years in the wake of the problems that struck the industry in 2008.

But Harmonic Capital Partners, the $650 million London-based quantitative long/short macro manager, is one of a rather smaller universe of businesses that had already undergone a substantial overhaul before the crisis even broke – and the firm has come through the downturn in stronger shape than