Bloomberg – Hedge funds that bet on economic trends are attracting cash at almost double last year’s pace as they seek to profit from events such as Europe’s sovereign debt crisis and China’s decision to let the yuan trade more freely.
So-called macro funds pulled in $2.5 billion through April, compared with $4 billion in all of 2009, according to researcher BarclayHedge Ltd. of Fairfield, Iowa. The category had the second-highest average returns after fixed-income funds in the past 36 months, even after losing 1.2 percent in May, data from Chicago-based Hedge Fund Research Inc. show.
