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New Managers May 2013

EManagers DB Insights - EManagers global macro index generates 11 positive quarters out of 13 since 2010

After 2008, many investors turned toward those hedge funds which are more secular in nature. Since a global macro strategy tries to cope with global market volatility of all sorts, it is one of the most sought-after strategies in the hedge funds market. A global macro hedge fund manager trades in the broader market, globally. The manager invests in equities, bonds, currencies, interest rates, stock indexes and derivatives, thus tries to create diversification in his or her investment strategy and low correlation with market volatility.

There are 25 global macro multi strategy funds listed in the EManagers database.

Based on the Waterfall analysis, the Emanagers global macro index had only two negative quarters since January 2010, and 11 positive quarters.

When we look closely at the quantum of negative fall and positive rise during these quarters, it gives a perfect picture of how the global macro multi strategy index has performed quarter by quarter.

This year so far, many of the new emerging global macro funds have performed fairly well.

Based on the EManagers index calculation up to April 2013, the strategy has showed positive returns, as the global macro multi strategy index returned 2.55% YTD

Global macro hedge funds in general Meanwhile, the HFRI Macro Index was up 0.90% (est.) in April, +2.14% YTD, after returning +1.94% in the 12 months, and +2.14% in the last five years. The HFRI Fund Weighted Composite Index did not do as well in April, but somewhat better in the long run, as it is up 0.70% (est.) in April, +4.37% YTD, after returning +6.56% in the last 12 months and +2.80% in the last five years.

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This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.
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