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Alternative Market Briefing

A global macro fund eyes opportunities in bonds

Friday, March 01, 2024

Bailey McCann, Opalesque New York for New Managers:

Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 15.40%, according to performance information reviewed by Opalesque.

ThirdYear CEO Martin Rossner, tells Opalesque New Managers that the strong performance came in spite of markets being generally choppy and somewhat range bound in 2023. "When you look at where our performance came from, some of it was equities driven and there were also positive trends in currency markets. There were also opportunities in global markets including Japan and Brazil," he says. "We were also able to simply avoid losses at certain points of the year, which set us apart from some of our peer funds."

ThirdYear Capital is known for its quantamental trading strategies. Rossner was previously with Man Group and ThirdYear builds on some of the skills he learned there.

ThirdYear's approach to investing relies on "nowcasting" - using technology to provide short-term forecasts of economic activity - along with fundamental analysis. For the ART fund, ThirdYear processes over 5,000 selected economic and financial time series to predict economic activity for over 20 countries in the near future. The methodology, popular with central banks, uses higher frequency data to determine lower frequency econo......................

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