Hedge Funds

PIMCO strategist makes macro play


The former managing director and chief global strategist of PIMCO, Dr Lee Thomas III, has launched a new group - Alpha Vision Capital - and will launch his new macro fund, which will invest in global fixed income, commodities, currencies and equities, in July.

Thomas is expected to take a long-term outlook on markets. His stock-investment style favors exploiting structural anomalies and he prefers to go after small caps and value names as well as those that can produce earnings surprises.

The portfolio will be broken down along three lines - buy-and-hold core positions, cyclical positions of up to a