Macro hedge funds show double-digit returns

Date: Monday, May 26, 2008
Author: Anuj Gangahar, FT.com

Hedge funds that place bets based on views of the global economic outlook are the only categories of the investment vehicles to have racked up double-digit returns so far this year.

These so-called macro hedge funds, which attempt to identify extreme valuations in stock markets, interest rates, foreign exchange rates and commodities, have shown returns of more than 12 per cent this year, outperforming the S&P 500 index by about 17 per cent.