Fund of Hedge Funds Performance

Mixed bag of results for global macro

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Despite a significant fall in volatility in markets January saw a mixed set of returns for global macro players.

Tredia Performance Fund was down 1.73% on the month, although three-month returns remain good at 7.36%. FRM Sigma Fund was down 0.2% for January, leaving three-month numbers at 6.5% and Permal Macro Holdings was up 1.4% to leave three-month returns at 4.05%.

Blacksquare Capital Global Macro was up 1.11%, bringing three-month numbers to 3.29%. The fund's discretionary managers benefited from the reduction in European interest rates and the steepening of government yield curves, with Brevan Howard up 4.1%, Caxton up