We’ve recently seen some performance numbers from some of the top dogs in the global macro hedge fund game. And, it’s not what you’d expect. After all, these funds typically have free reign and can trade in interest rates, currencies, futures and sovereign debt… areas ripe with opportunity given the ever-changing dynamic of global economies. Yet, some of the world’s largest hedge funds seem to be struggling.
As the FT notes, Paul Tudor Jones’ flagship hedge fund Global BVI at Tudor Investment Corp was down 0.55% for 2010 as of the middle of March. Also, fellow global macro titan Louis Bacon seems to be seeing mixed results. His Moore Capital Management flagship fund is up 1.58% for the year. You’ll remember that Moore Capital was recently raided by the FSA for alleged insider trading by one of their traders for his personal account (not for trades made on behalf of the fund). However, Moore’s emerging markets fund was down 5.88% as of the middle of March. This fund is run by famed trader Greg Coffey (formerly of GLG). For more on Bacon’s hedge fund, we’ve posted up some recent portfolio activity out of Moore, as well as some of their UK positions.
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