Tue, May 30, 2017
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. Investing - China's HNA wants to invest in Value Partners, Risk parity investors reap rewards from rebalancing act, SoftBank's $100 billion tech fund rankles VCs as valuations soar[more]

      China's HNA wants to invest in Value Partners From Reuters.com: HNA Group has alighted on a logical, if pricey, target in Hong Kong. The deal-hungry Chinese travel conglomerate known for overpaying wants to invest in Value Partners, one of Asia's few sizeable independent asset managers,

    2. Opalesque Exclusive: Investors warm to ESG, but seek standardization[more]

      Bailey McCann, Opalesque New York: Asset managers and asset owners plan to double their investment in Environmental, Social and Governance (ESG) driven strategies over the next two years, according to a survey from BNP Paribas Securities Services. The report, "Great Expectations: ESG - what's nex

    3. Opalesque Roundtable: France's hidden strengths in AI and machine learning[more]

      Komfie Manalo, Opalesque Asia: All nations offer their strengths and weaknesses, but one that is undisputed is the quality of the French scientists, claimed Guillaume Vidal, co-founder of French technology startup Walnut Algorithms at the

    4. AI-based hedge fund brings machine learning investing to masses[more]

      Komfie Manalo, Opalesque Asia: Machine learning-based hedge fund firm Greyfeather Capital is trying to bring artificial intelligence investing to the masses with its plan to expand beyond the limited reach of the alternative investments space. "We're excited to bring AI technology to traditio

    5. Outlook - Iconic hedge fund manager Seth Klarman says investors are missing huge risks, Paul Singer warns of a world at risk[more]

      Iconic hedge fund manager Seth Klarman says investors are missing huge risks From Businessinsider.com: An iconic hedge fund manager says investors are misperceiving risks in the markets - at a time when markets are hitting historic highs. Baupost Group's Seth Klarman laid out his concern