Macro Funds Suffer Another Tough Month in September

Macro hedge funds' profit and loss was driven by how strongly they were positioned in favor of taper in September. The near consensus among all analysts that Fed would curb its money-printing ways caused several Macro Funds to establish protective hedges. HFRX Macro/CTA Index was down 0.2% in September, and is down 2.7% for the year.

Omni Macro Fund, was down 0.8% in last month, trimming the return for the year down to -3.09%.

In the monthly commentary, the fund notes how unabashedly the Fed took a u-turn on limiting its asset-repurchase program. The monthly update...