Macro Hedge Funds Surge To 100%+ Gains As Rest Of Industry Struggles

The biggest winners of this year’s market turmoil are macro hedge funds. Hedge funds on average are down 4% in 2021, according to data group Hedge Fund Research. However, macro funds were up around 8% on average during the first half of the year. Leading the pack is Crispin Odey, whose flagship Odey European fund has returned almost 200% this year according to the latest figures. According to Bloomberg, Odey’s fund has booked huge profits thanks to his bets against pound sterling and UK government bonds, both of which have sold off this year. The fund’s short exposure to UK…