Macro magic

Permal's FX, Financials and Futures fund is a fund of hedge funds that has been running for 10 years and focuses on underlying portfolios running a global macro strategy. Over the past three years, it has grown to $700m, reflecting renewed interest in global macro hedge funds. It has 16 underlying funds, but will invest in as few as six or as many as 20 to try to return investors between 10% and 12% annually.

While the fund is not Permal's flagship ' sitting alongside the $2.24bn Haussman Holdi