Keegan's Auspex hit by choppy market


Like other macro funds, Salomon Brothers legend Dennis Keegan's $300 million Auspex fund has been struggling with returns in a market environment that has not been kind to many practitioners of the strategy. Founded in July 2003, Auspex has a fundamental bent and is set up to focus on a medium- to long-term time horizon. The fund invests in countries in the Citigroup World Government Bond Index and also allocates a small part of the portfolio to emerging market fixed income and foreign exchange, equity indices and credit.

The Auspex Master Fund Ltd. was down 3.68% in August