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Alternative Market Briefing

Lekka Global Management launches global macro strategy

Tuesday, October 30, 2018

Bailey McCann, Opalesque New York for New Managers:

Chicago based Lekka Global Management has launched a new global macro trading program. The program will trade equities, fixed income, currencies and commodities futures.

The strategy will be split 80/20 between the equities/fixed income which will be trend following with a reversal model and commodities/currencies which will be trend following with an equal bias toward long and short positions. The goal of the strategy will to have an annualized volatility of between 10-12 percent, lower than that of the S&P 500 which typically has 15-20 percent.

Lekka Global is a new firm led by Joseph J. Knapek. Prior to launching Lekka Global, Knapek was principal of other commodity-related firms, including Altea Asset Management, Euro Doc Trading Advisors and JKN Trading.

Global macro as a strategy has come back into focus for investors as they seek more defensive positioning in the wake of recent volatility. Macro funds are the leading strategy for hedge funds in terms of assets raised year to date, according to data from eVestment. The category is up $12.49 billion through October and is the only strategy where more than 50 percent of funds have had positive asset flows in 2018.

However, the category also has a significant return dispersion and investors have seen pretty significant volatility recently as asset weightings have shifted......................

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