Distressed Hedge Funds Rise, Global Macro Slumps In H1

Global Macro hedge funds had a dull running in the first half of this year. According to Eurekahedge, the strategy posted an average return of just 0.24% in the first half. Global macro remains the consistent underperformer of the year, in some cases managing an even lower return than managed futures. On the other end the new strategy in the race is now distressed/credit hedge funds, these managers are having a much better than usual year this time. The average return of credit hedge funds has been higher than event-driven and long/short equity hedge funds in some cases. Mudrick Distressed…