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Bailey McCann, Opalesque New York for New Managers: Munich-based global macro fund - ART Global Macro finished 2024 on a high note. The fund was up 8.88% through year end.
The ART Global Macro fund is managed by ThirdYear Capital, a quantamental shop led by Martin Rossner who was previously with Man Group. ART Global Macro fund invests in liquid and exchange-traded instruments such as equities, government bonds and futures. The strategy was launched together with Agathon Capital and Universal-Investment.
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 economic data before it is released.
Unlike other macro funds, factors and technical trend signals are deliberately avoided.
According to a recent letter to investors, moderate losses from equities and bonds were offset by gains in currencies in December of 2024. In 2024 overall, just over 5% of the return contribution came from dynamic long and short positioning in bonds. Overly optimistic interest rate cut expectations created short-side opportuniti...................... To view our full article Click here
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