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From Kirsten Bischoff, Opalesque New York:
As opportunities emerge in different markets, global macro manager David Gerstenhaber sees a larger playing pool for his strategy, simultaneous with a drop off in competition. Gerstenhaber, CIO and founder of global macro firm Argonaut Capital spoke with Opalesque's Matthias Knab recently in an interview for OpalesqueTV, and discussed the evolving nature of the strategy. One important change is the opportunity set in markets not typically mined in the past.
"Five years ago, one would probably have laughed if I said that we would be trading in the Chinese capital markets. But we do that on virtually a daily basis, and if one is to look out another 10 or 15 years, one can think of other countries which are likely to have deep liquid capital markets and that will be exciting for us to participate in as well," Gerstenhaber said.
Increased investment activity in China and other markets is the likely future for many managers as the developed world is expected to fall into a period of low growth. This expectation is one of the reasons why hedge fund investors are looking to global macro mangers post financial crisis.
At the end of Q32010 global macro (along with event driven strategies) experienced the highest YTD asset flows, with global macro leading the way with $11bn in inflows. "This demonstrates the desire of investors to invest ...................... To view our full article Click here
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