It’s fair to say the first half of 2023 has not played out as many investors would have imagined. The equity market has shot higher, with the S&P 500 returning 15.9% for the year to the end of June – its best start to the year since 2019. Meanwhile, hedge funds specializing in maco trading, which booked huge profits last year due to turbulence in global bond markets, have struggled. The US regional banking crisis, followed by the collapse of Credit Suisse and the sudden tightening in rates, caught many macro fund managers off guard. Macro Funds Caught Up in…
Multi-Manager Funds Are Having Another Good Year As Macro Struggles
Rupert Hargreaves
Sign up now and get our in-depth FREE e-books on famous investors like Klarman, Dalio, Schloss, Munger Rupert is a committed value investor and regularly writes and invests following the principles set out by Benjamin Graham. He is the editor and co-owner of Hidden Value Stocks, a quarterly investment newsletter aimed at institutional investors. Rupert owns shares in Berkshire Hathaway. Rupert holds qualifications from the Chartered Institute For Securities & Investment and the CFA Society of the UK. Rupert covers everything value investing for ValueWalk
