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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

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