World's Best Performing Macro Hedge Fund Lost 16% Last Month
- PruLev Global Macro Fund slumps after gaining 52% last year
- Singapore-based fund fell as markets roiled in February
Hedge Funds Suffer Losses Amid Volatility's Return
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The PruLev Global Macro Fund gave up almost one-third of last year’s 52 percent gain in February, after being caught out by the return of volatility.
The fund, the world’s best performer last year among macro funds with assets of more than $100 million, lost 16 percent, mainly from stock bets, according to preliminary figures in a newsletter obtained by Bloomberg. The decline in the Singapore-based fund’s Class-B shares compares to a 0.9 percent drop in the Eurekahedge Macro Hedge Fund Index last month.