Sunday 23, September 2018 by Bloomberg

Macro managers pull in $15 billion in year, leading hedge funds

 

Investors have poured more than $15 billion into macro hedge funds this year through August, making them the most popular strategy.

Macro funds added net inflows of $3.5 billion in August, according to a report Thursday by eVestment. Last year they raised a total of $9.4 billion.

While the average performance of macro funds has lagged behind other strategies, marquee names like Tudor Investment Corp. and Element Capital Management are posting solid returns, providing investors a reason to stick with the approach. Interest-rate increases, geopolitical risks and rising volatility this year have also created fresh opportunities for macro traders.

Macro firms were down 0.8 percent during the first eight months of the year, another eVestment report showed. Tudor Investment returned 8.7 percent through August, according to an investor document.

The industry pulled in $4.7 billion in August, bringing the total for the year to $15.4 billion, the report said. Last year hedge funds raised $27.7 billion.

The big loser was managed futures, which saw investors pull $3 billion in August for a yearly outflow of $8.9 billion.

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