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Hedge funds lost on UK May’s snap election call, but humans beat the machines

Here is an interesting piece from Reuters while we await Asian markets getting into full swing

  • AQR Capital Management’s $13.3 billion computer-driven Managed Futures Strategy lost 1.1 percent on Tuesday, according to an investor who was told by the hedge fund
  • Other computer-driven – or “quant” – hedge funds to lose out included Candriam Alternative Systematic, which lost 0.9 percent on Tuesday … according to a spokesman at the firm.
  • Human-led macro hedge funds, which mainly carry out bets through currencies and bonds, lost out but to a lesser degree … Hugh Hendry’s Eclectica Asset Management lost 0.1 percent in its CF Eclectica Absolute Macro Fund for example, confirmed a spokesman at the firm … Goldman Sachs Global Strategic Macro Bond Portfolio lost 0.1 percent and the 21.6 billion euro ($23.15 billion) Carmignac Patrimoine fund lost 0.3 percent, said sources.

  (Beware of too much generalising on this though)


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