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Alternative Market Briefing

Some emerging hedge fund managers’ reactions to Brexit

Tuesday, June 28, 2016

amb
Mr. Simone Dalle Nogare
Benedicte Gravrand, Opalesque London for New Managers:

Hedge fund managers navigated intense volatility on Friday 24 June as the Brexit vote resulted in massive dislocations across global currency, equity, commodity and fixed income markets, most specifically reflected in the British pound, which posted a steep decline against the US dollar and Japanese yen, according to HFR .

Opalesque talked to several emerging hedge fund managers who run global macro, FX, quantitative and market neutral strategies, about their reactions to Brexit.

Mr. Simone Dalle Nogare, director at MacroMoney, said his global macro fund does not forecast but rather reacts to the speed of change (acceleration, deceleration, contraction) of the macroeconomic indicators.

  "Taking into consideration our approach," he told Opalesque, "I can tell you that at the moment our proprietary macroeconomic model is showing a deceleration of the macroeconomic indicators since one year ago. This deceleration, together with a strong event like Brexit, could push the world economy into recession. We will be closely following the economic indicators in the next two to three months to see if this scenario materializes. If this is the case, then we expect in the medium term a downt......................

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