Global macro hedge fund managers lock-in high returns

July 26th, 2010
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After a dramatic increase in market volatility in May and June, very few hedge funds have seen positive returns in recent months - but those that did witnessed their largest increases since Lehman Brothers went under. According to the Financial Times, bearish hedge fund managers and their global macro funds, which bet on the shifting conditions of the global economy, have reported gains from short positions against the Eurozone’s sovereign credit, the Yen, the Euro, and “commodity currencies” like the Australian and Canadian dollars. Among the top performers were macro fund Autonomy Capital, which manages $1.7 billion under the leadership of Lehman veteran Robert Gibbins and is up 17% so far in 2010; BlueCrest Capital’s flagship $7 billion BlueCrest Capital International fund, which focuses on fixed income and is up over 10%; and GLG Partners’ macro fund, which manages $160 million and gained 8% in May alone. According to Dow Jones Newswires, global macro hedge fund Prologue Capital’s flagship fund, which now manages over $1 billion, has also reported 4% gains so far this year.

Among concerns over a slowdown of the economic recovery, high levels of unemployment, a deflationary scare and Europe’s sovereign credit mess, these bearish global macro managers seemed to have the only profitable portfolios. Other global macro funds like Brevan Howard, Moore Capital and Tudor Investment have all witnessed negative or mediocre returns so far, and on average macro funds have dropped 1.16% this year. According to Hedge Fund Research, hedge funds overall have dropped 0.21% on average year-to-date, and the analyst’s Weighted Composite Index was down 0.86% in June.
For Detailed Investor Profiles on these Investors, click below:
Autonomy Capital Research
BlueCrest Capital Management
GLG Partners
Moore Capital Management
Tudor Investment Corporation
Related People: Derek Goodman; Emmanuel Roman; Greg Coffey; Henry Bedford*; James Pallotta*; Jason Mackay; Jean-Philippe Blochet; John White; Louis Bacon; Michael Platt; Noam Gottesman; Paul Tudor Jones, II; Pierre Lagrange; Robert Gibbins; Scott Nelson; William Reeves
Related Entities: Autonomy Capital Fund; Autonomy Capital Group ; Autonomy Global Macro Fund; Altar Rock*; BlueCrest Capital; BlueCrest Special Situations Fund LP; BlueCrest Strategic Ltd; BlueMountain Capital Management; BVI Global Fund Ltd; GLG Alpha Select Fund; GLG Partners Inc; GLG UK Growth; GLG UK Income; GLG UK Select; Man Group Holdings; Moore Capital Emerging Markets; Moore Global Fixed Income; Moore Japan Restructuring; Raptor Global*; Remington Investment Strategies; Tudor Investment Corp; Tudor Investments; Tudor Momentum Futures Fund; Tudor Tensor; Valence Capital Management
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Hedge Fund Launches and Hedge Fund Closings


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