Macro: Blenheim bucks the trend


Macro funds had a particularly hard time in 2006 as they struggled with a weakening U.S. dollar and unprofitable shorts on the 10-year U.S. Treasury. Even after a strong December - the Absolute Return Macro Index gained 1.82% that month - the median rose just 9.90% in 2006.

Outperformers include Blenheim Fund, up 0.28% for the month and 50.03% for the year, and Drake Global Opportunities Fund, up 2.40%* in December to total 41.10%*. Drawbridge Global Macro Fund was up in December, producing a total return of roughly 17%* YTD. Meanwhile, Barton Biggs's Traxis Fund rose 1.10% in December