Funds of Hedge Funds Performance

Challenging times for global macro and FX


There is a particularly wide divergence in returns within global macro currency so far this year, reflecting the challenging environment for both discretionary and systematic managers. The year-to-date median figure reflects this, showing the weakest return of all sectors at 2.34%. For July, the median return was just under 1%.

Many discretionary managers made gains last month, as yield curves flattened in Europe and Japan, while some commodity trading advisors were caught out by the V-shaped dip in oil prices.

Ivy Trading Strategies was up 10.30% year-to-date after a 1.41% monthly return, while Cedar Diversified was up 8.26% on