A global macro renaissance is focusing on risk controls

Global macro has seen a resurgence in popularity with a number of new players entering the market.However, a strong focus on risk controls has separated winners and losers as key trends have reversed in fixed income, equity, currency and commodity markets. Stuart Davies, head of research at Coronation International's $12m macro fund of hedge funds, says any recent gains made by his portfolio of six underlying managers, is due to them keeping abreast of downward trends. 'To a large degree, th