Hugh Hendry’s Dollar Bet Spurs Revival at Hedge Fund Eclectica
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Hugh Hendry, the Scottish hedge-fund manager who made a fortune for his clients during the depths of the financial crisis, has re-established his Eclectica Asset Management as one of the world’s top performing hedge funds after making a winning bet on the dollar.
Hendry’s Eclectica Fund, which posted losses in 2012 and 2013, last year made a wager on the currency rising that helped the fund gain 28 percent over the past 12 months, outperforming 95 percent of similar funds, according to data compiled by Bloomberg. The Eclectica Fund manages $86 million of the firm’s $300 million in assets by betting on broad global macro-economic trends.