Hugh Hendry's Eclectica Battle On BoJ! Gains on Australian Shorts

Hugh Hendry, in the latest performance letter of Eclectica Fund, accepts that the much awaited resurgence in U.S. economic growth has not materialized in its full spirit yet. The weak output shown in global manufacturing data shows that the cyclical sell off in Europe, emerging markets and economies dependent on China will continue to bog down growth in the U.S., for at least a longer period than previously anticipated by most. The global macro strategy fund Eclectica detracted 0.2 percent in April, bringing the YTD performance to +3.4 percent. The fund underperfomed on its major long position in the US dollar,…