CastleBay macro fund capitalises on trends


The CastleBay Macro Fund profited from bearish positions in equity markets and took advantage of commodity currencies' weakness versus the dollar, as well as bearish positions in Asian currencies, to make a storming 22% gain in May, taking the fund to 16% year-to-date.

As the crisis in Europe started to unfold - which in turn increased demand for US dollar funding - CastleBay's Julian Reis took this to be a very strong indicator of risk aversion and responded accordingly.

Reis will take a wait-and-see attitude to the European situation, but believes that in general global leading indicators have