It has been a tough start to the year for macro hedge funds. After a strong 2022, macro funds have struggled in volatile markets in 2023 so far, with the HFRX Macro CTA Index losing 1.17% for the year to the end of April.
According to Bloomberg, macro hedge funds returned 12.2% on average last year, the best year since 2008. Almost every macro hedge fund index shows losses for the sector in 2023.
A Tough Trading Environment
The Mission Crest Macro Fund has not been able to escape the pain. According to a copy of the fund's April update, which ValueWalk has reviewed, the fund added 0.65% in April, compared to a gain of 1.36% for the HFRX Macro CTA Index. For...
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