Macro split again as the winners and losers diverge


October was a similar story in macro as it has been all year – with wide dispersion between those who made money and those who lost it. Aside from managed futures, macro was the only strategy area to post a negative return on the month – albeit only a small median loss.

Notable among those in positive territory were Market Bridge Global Macro, with a 14.78% gain, and Nordea Alpha 15, which was up 10.01%. Other winners included CDAM Global Opportunities (7.39%), Episode (5.65%), Brevan Howard Emerging Markets Strategies (4.57%), Vega Select Opportunities (4.45%), and GAM Global Rates