A huge downward swing in interest global macro funds has been the biggest surprise this autumn according to Tara Capital, the Geneva-based h...

A huge downward swing in interest global macro funds has been the biggest surprise this autumn according to Tara Capital, the Geneva-based hedge fund advisory firm, which has just released the results of its quarterly Hedge Fund Strategy Barometer.

The number of investors ranking global macro amongst their preferred strategy for the next twelve months is well down, from 21 per cent three months ago to 9 per cent now.

“This reflects a poor overall relative performance over the last year from the macro managers as a peer group,” according to Cyril Delamare, managing director of Tara Capital.

And over half of those surveyed said that they will be increasing allocations to the convertible arbitrage strategy. “This is a great turn around, and quite the best result that this strategy has recorded since the inception of the barometer three years ago,” said Mr Delamare.

The decline in popularity for long-short equity continues this quarter, despite booming stock markets. It was the most popular for 20 per cent of the respondents this autumn, down from 41 per cent in the summer and 56 per cent last winter.

This quarter’s barometer sees the addition of four new alternative strategies: energy trading, activism, asset backed lending and other structured finance.