Sun, Sep 21, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Prologue Capital remains cautiously optimistic about the year

Tuesday, August 13, 2013

Bailey McCann, Opalesque New York:

Prologue Capital, a London and Connecticut based, hedge fund focused on global macro sees a variety of cautiously positive trends in the US and global economies according to their most recent economic outlook, obtained by Opalesque. The fund has approximately $2bn in assets under management, and notes that while the economic factors they consider have changed many times so far this year, there is still hope.

In the letter, Thomas Jelf, Prologue's chief economist takes on the big themes defining markets right now. "As soon as one headwind appears to abate, e.g. fiscal retrenchment in the United States, another emerges, e.g. slowdown in emerging markets. But the fact remains that the global economy is digging itself out of the hole created by the great financial crisis and the subsequent Eurozone crisis, albeit at a slow and uneven pace," he writes.

Overall, he sees this recovery primarily benefitting developed economies, at the expense of emerging markets and parts of Europe that are slipping further into recession. Yet, even amid these positive indicators, some uncertainty remains. Specifically, Jelf cites monetary policy concerns as the strategies put in place by central banks to reduce uncertainty have actually led to new concerns. He expects that monetary policy will remain accommodative at the big three central banks - US, EU and Japan, although public comments made by Fed leaders and staffing changes are likely to m......................

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. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  2. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  3. Institutions - North Carolina workers call on state pension to dump up to $6bn in hedge funds, UK pension fund criticizes hedge fund fees[more]

    North Carolina workers call on state pension to dump up to $6bn in hedge funds From Forbes.com: The State Employees Association of North Carolina this afternoon called on state Treasurer Janet Cowell to withdraw all investments in hedge funds, which appear to amount to approximately $6 b

  4. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e

  5. Institutions - Adviser's faith in hedge funds unshaken by CalPERS' move Advisers weigh in on CalPERS’ decision, Gina Raimondo sees no reason to follow California’s lead, exit hedge funds, Danish pension funds step up 'alternative investments'[more]

    Adviser's faith in hedge funds unshaken by CalPERS' move From WSJ.com: Financial advisers who use hedge funds in their clients' portfolios say they aren't rethinking that approach after a huge California pension fund announced plans to exit the hedge-fund market. The decision by the Cali