World's Best Macro Fund Surges 47% This Year
- Singapore’s PruLev Global Macro Fund boosted stock bets
- Macro hedge funds worldwide are industry’s worst performers
Photographer: Dario Pignatelli/Bloomberg
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As macro hedge funds worldwide shape up as the industry’s worst performers this year, Singapore’s PruLev Global Macro Fund is steaming ahead with a 47 percent gain.
The fund’s 2017 surge through October has made it the world’s best performer among macro rivals with assets of more than $100 million, according to data provider Eurekahedge Pte. The return was driven by stock bets after U.S. President Donald Trump’s 2016 victory prompted the $128 million PruLev Global Macro to add to holdings in the U.S. and its major trading partners, deputy fund manager August Li said in an interview.