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From Kirsten Bischoff, Opalesque New York:

The only strategy in the Credit Suisse/Tremont Broad Index to maintain positive performance for the previous five months (November to March), global macro funds have been basking in the light of a recent uptick in investor interest.

Previously, hedge funds investors (such as family offices) shied away from global macro funds, due to the lack of definitive concentrations of investments, James Hirchak of PJH Consulting Services explained to Opalesque. Typical investor concerns have included: the complexity and difficulty understanding the strategy’s diversity and scope, possible exposure to multi currencies, and the “opportunistic” nature of strategy lacking a definable investment parameters. “These are all reasons why some investors have missed out on the global macro performance over time,” says Hirchak.

The performance to which Hirchak refers has been measured by Credit Suisse Tremont at +12.57% (annualized) since the firm began tracking hedge fund performance in 1994.

Fund of hedge funds are, by all accounts leading the return in interest to global macro. Standard and Poor’s partially attributes this to the strategy’s tendency to increase a portfolio’s liquidity. $63m New York-based Lyford Group International uses a short-term investment strategy with its global macro fund. “The beauty of this fund in this environment is that we are very liquid,” Lyford CIO Samer......................

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