This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Macro Hedge Funds Stuggle In October, But Future Looks Positive

Global Macro hedge funds have been struggling this year, however last month brought some respite from a series of tough returns, but only for a few players. Credit Suisse hedge fund index recorded a 1% increase in the global macro sub-strategy. The average return for the year has now edged up to +2.53% according to the index.
Natixis Hedge Fund Strategies Macro

Via Natixis

October saw overall positive news from the U.S and Europe; the main surprise contribution came from the last minute budget deal that was struck up in the U.S. The Eurozone remained largely uneventful in October, however a surprise cut in November drove interest rate to nearly zero, hurting longs in the euro. Other than the extension of the debt ceiling, the nomination of Janet Yellen as President Obama’s choice for Fed chair came as major market-moving news. Given that Yellen is supportive of an easy monetary policy, it is probable that Bernanke’s philosophy will prevail and Fed will reduce its unemployment rate target to a lower figure than 6.5%.

Global macro strategy is still coping

Most notably, Brevan Howard’s Emerging Market Strategies was up once again in last month with a 1.36% return, reducing the YTD loss to -11.7%. However BH’s Asia Fund, the consistent gainer of this year, lost 1.26% and is now up 8.1% overall. The flagship Brevan Howard Master Fund was down 0.59% and is now up only 0.84% for the year. Brevan Howard’s master fund is now dangerously close to recording its first down year in its history.

Read more: Brevan Howard Overtakes Man Group As World’s Largest Hedge Fund

Fortress Asia Macro Fund was up 0.47%, total gain has now edged up to 12.16%. BlueCrest Emerging Markets Fund was up 0.24% in October, netting a total gain of 3.5% for the year.

TT International up on long European equities

TT International Fund finally recorded a gain of +0.63% in October after underperforming for a few straight months. The fund recorded its highest profits in its European equity portfolio but suffered a minor loss in its long position in the euro against USD. Even though the Fed decided not to fix a time to taper QE, the meeting resulted in near-term expectations of the event. As a result the USD strengthened against the euro, affecting the fund’s position – TT International has now exited this hedge.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
HLTOY $4.64 0.00%
NOK $5.93 0.00%
PHG $27.62 0.00%
AAPL $93.64 0.00%
FB $118.57 0.00%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs