Hedge Funds

Threadneedle macro managers focus on short-term simplicity


Threadneedle macro managers Peter Allwright and Stuart Frost can look back on their first year of running a hedge fund with some satisfaction.

Launched in early October 2008, their $100 million Threadneedle Macro Trading Crescendo Fund has navigated its way through one of the stormiest years in history with aplomb - gaining 15.5% in its first 12 months to the end of September, on volatility of less than 4% and without a single down month so far.

In any 12-month period, that would be a creditable track record. But in a year of such extreme volatility its performance is