Macro: Rocky markets


Getting a read on profitable themes in global macro investing proved challenging in August for a number of funds, as the Absolute Return Macro Index reported a median gain of a mere 0.23%. According to Absolute Return research, there were an equal number of winners and losers for the month. The median return for the winners was 2.8%, while losers clocked in at -1.1%. Year to date, macro funds have gained a median of just 3.73%, well behind all but one strategy our research tracks. Big winners in August included the FX Concepts Global Financial Markets Fund, which