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From Sagar Chakraverty, Opalesque Asia:
So far this year, the global macro strategy has faced a more challenging environment, culminating in the biggest loss during May (the HFRI Macro Index lost -1.21% and -0.59% YTD). However, Swedish financial group SEB remains steadfast that the strategy will perform well this year, it said in its recently published Market Outlook. Even in the face of the vast and volatile market swings caused by unexpected alterations in the yield curves of government bonds, and the havoc of the Greek debt crisis, SEB predicts skilled macro managers will have plenty of potential to extract good risk-adjusted returns for the rest of 2010.
“For the Global Macro strategy, 2010 to date has been a bit more challenging, though there have been many different themes and markets with good potential returns,” said the SEB report. “So far this year, unexpected changes in the yield curve for government
bonds, especially on the short end of the curve, have been costly in terms of lost returns. Here the flare-up of the Greek fiscal crisis has played an important role. There have also
been reversals - trends that have suddenly turned around - in foreign exchange administration, something that is usually difficult for foreign exchange dealers to correct for in the short term. Competent Global Macro managers should nevertheless have good potential to deliver good risk-ad...................... To view our full article Click here
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