Discretionary Macro Funds Continue to Struggle in May

Managers including Discovery, Caxton and Tudor have posted losses through the month, hampered by a lack of trends in the markets.

This year is shaping up to be a tough one for many of the best-known global macro hedge fund managers, who continue to struggle amid a turbulent and trendless environment for the financial markets.

In a first look at May results, most discretionary macro funds — those that depend on humans to pull the trigger on investment decisions — extended their losses for the year through the middle of the month.

To continue reading, subscribe now to Premium Journalism. Already a subscriber? login.