The Wrong Type of Macro?

Macro’s failure to perform this year – why the bemoaning?

DAVE FISHWICK, M&G EPISODE

There has been a great deal of commentary and discussion recently about the struggles experienced by macro funds. As Fig.1 highlights, fund returns over the last five years have been relatively low in an absolute sense, but most notably relative to global equity markets. This reality and perception has intensified over the last twelve months after the sea change in market behaviour seen in mid-2016.


 

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