Managed futures funds outshine macro peers

Quant funds doing a better job interpreting drivers of rates and currency markets

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After a string of relatively poor returns during and after the European sovereign debt crisis in 2011–12, managed futures and global macro products fell out of favour with hedge fund investors. As aggregate returns from the managed futures universe rebounded in 2014, in line with the precipitous fall in oil prices and strengthening of the US dollar, investor interest returned. However, volatile returns in the second half of 2015, along with large losses from segments of the global macro universe