Dispersion continues in macro as uncertainty remains high

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Wide dispersion in macro continued in June, ending a tricky first half in which as many funds are up for the year as are down.

The best performers this year include BTG Pactual (up 6.86% YTD after a 0.38% loss in June), CCP Quantitative Aristarchus (up 4.83% YTD despite a 4.69% loss) and Vega Select (up 4.79% for the year despite a 2.90% loss in June).

Brevan Howard has made 2.47% in the first half, but lost 0.54% in June. Omni Macro is up 2.40% YTD after a 5.20% June gain. Episode has returned 2.02% YTD after losing