Investors Shun Macro Funds at Precisely the Wrong Time

Hedge fund investors are fleeing macro funds, but if history is any guide, now is the time when they should be getting in.

Investors seem to be scaling back on their macro exposure just when history suggests it could be a good time to get in.

A new comprehensive report from London-based data and research firm Preqin shows that macro funds accounted for just 14 percent of new hedge funds in the first quarter of this year, way down from 28 percent in 2012 and 26 percent in 2011.

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