New York (HedgeCo.net) – According to Hedge Fund Research, the average macro hedge fund was down 1.47 percent on a year to date basis through the end of October, but not all funds are struggling this year. The Eclectica fund managed by Hugh Hendry is up 5.4 percent on the year through the end of November after gaining 2.2 percent during November. These numbers were reported in an article from Reuters.

The England-based firm has approximately $250 million under management in several different funds. The firm was established in 2005.Macro funds can make bets in stocks, bonds, commodities or currencies and are usually focused on a few major themes. 2015 has been a tough year for the strategy as equity markets have vacillated and central banks around the world have changed monetary policies, most notably Switzerland and China.

Seeing Hendry’s fund experience any measure of success is a plus for the firm and the strategy as a whole as there have been a number of macro funds that have closed their doors this year. The most recent announcement came earlier this week when BlueCrest Capital announced that it will return all money from outside investors.

Rick Pendergraft
Research Analyst
HedgeCoVest