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Article: Global macro strategy delivers rare resilience amid hedge fund carnage.(Business Report Weekend)
- Article from:
- The Sunday Independent (South Africa)
- Article date:
- February 8, 2009
CopyrightCOPYRIGHT 2009 Independent News & Media PLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TrimTabs Investment Research and Barclay Hedge estimated funds held at the year-end totalled $1.1 trillion (R11 trillion), down from $1.9 trillion a year earlier.
One rare bright spot was the resilience of global macro fund managers, who wager on currencies, equities, interest rates and commodities based on their fundamental analysis of world economic trends.
Their funds gained 5 percent on average amid the carnage, according to Hedge Fund Research, prompting investors and managers to predict a renaissance for the once ubiquitous strategy. Preliminary estimates show macro funds up another 1.4 percent last month.
"Twenty years ago, the words ...