Wed, Jul 27, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Single country macro economic themes could become more interesting

Tuesday, December 11, 2012

Benedicte Gravrand, Opalesque Geneva:

Mark Farrington is managing partner at Macro Currency Group (MCG), a global specialist currency and macro fund manager managing more than $9bn in AuM through absolute return, beta and hedging strategies. He discussed the opportunities in this unique global cycle and what approach is most likely to lead to positive global macro returns, at Terrapinn’s Hedge Funds World conference in Zurich last month.

By this unique cycle phase, he means the 2012-13 cycle which is characterised by:

  • Sub-trend growth;
  • Policy exhaustion;
  • Excess liquidity: "even though liquidity is much more equally accessible, we have a situation of excess in the capital markets;"
  • Macro-economic uncertainty: "this is primarily the uncertainty of understanding how this phase ends, how we move from having private sector self-originating growth recovery that is not induced by policy intervention…"
  • Low financial market volatility: "characterised normally with high-levels of macro-economic activity and negative growth outcome activity;"
  • And regulatory uncertainty, "one of the more difficult aspects to deal with."
  • The cycle might have started at the end of last year, and began impacting performance in the middle of this year, he noted, and MCG’s framework indica......................

    To view our full article Click here

    Today's Exclusives Today's Other Voices More Exclusives
    Previous Opalesque Exclusives                                  
    More Other Voices
    Previous Other Voices                                               
    Access Alternative Market Briefing

     



    • Top Forwarded
    • Top Tracked
    • Top Searched
    1. Opalesque Exclusive: California-based manager launches long/short equity hedge fund with unique algorithm[more]

      Benedicte Gravrand, Opalesque London for New Managers: SJL Capital LLC, an investment advisory firm based in California, has launched its maiden fund, the SJL MarketDNA Hedge Fund LP. The fund, which began trading

    2. Manny Roman to move from Man to Pimco[more]

      Benedicte Gravrand, Opalesque London: Emmanuel (Manny) Roman, an investment world veteran, has been hired by PIMCO, the large US bond fund house, as chief executive officer. PIMCO's current CEO Douglas Hodge will assume a new role as managing director and senior advisor when Roman joins P

    3. Europe - European hedge funds shrink and shutter as turmoil hurts returns, Investors go bargain-hunting for U.K. property after Brexit vote, Brexit: Guidance for fund directors - what to know and what to ask[more]

      European hedge funds shrink and shutter as turmoil hurts returns From Bloomberg.com: Europe’s hedge-fund industry contracted for a sixth straight quarter as the U.K.’s decision to leave the European Union and concerns that China’s growth is slowing caused losses and forced some money man

    4. Platinum Partners starts liquidation of hedge funds following municipal union kickback scandal[more]

      Komfie Manalo, Opalesque Asia: Platinum Partners, the hedge fund in the middle of a New York City municipal union kickback investigation, is reported to be liquidating two of its funds, the New

    5. SWFs - Abu Dhabi wealth fund says long-term investment gains fell[more]

      From Bloomberg.com: The Abu Dhabi Investment Authority, one of the world’s biggest sovereign wealth funds, said its long-term gains dropped in 2015. The fund’s 20-year annual rate of return slowed to 6.5 percent at the end of 2015, from 7.4 percent a year earlier, it said in its annual review. Over