Macro: Returns spike on volatility


Macro managers love volatility, and for good reason. As the dollar weakened and the price of oil jumped by $6 to $73 per barrel, the Absolute Return Macro Index gained 1.99% in April. Strong performers include the Drawbridge Global Macro Fund, which gained 4.01%; Tewskbury's Investment Management Fund, whose Class B shares climbed 2.9%; Bruce Kovner's Caxton Global Investment, which rose 2.58%; Barton Biggs's Traxis Fund, whose offshore portfolio was up 2.28%; and Moore Global Investments, whose Class A shares netted 2.11%.Topping our April league table is AlphaQuest Composite Fund, which clocked an astonishing 28.15% rise for the