New York (HedgeCo.net) \u2013 If there is one hedge fund strategy that has struggled more than others this year it would have to be the macro strategy. Because of the strategy\u2019s struggles, a number of firms have closed their macro funds and BlackRock became the latest when they announced on Wednesday that they would close the Global Ascent Fund.<\/p>\n
BlackRock is the world\u2019s largest asset manager and in a report from Business Insider, a company spokeswoman stated that “We believe that redeeming the Global Ascent Fund was the right thing to do for our clients, given the headwinds that macro funds have faced.”<\/p>\n
The fund, which once had $4.6 billion in assets under management, was down 9.4% on the year and had experienced a high amount of investor redemptions this year. The closing of the fund by BlackRock is just another in a long list of fund closures this year and there have been an inordinate number of macro funds that have closed. Earlier this week Achievement Asset Management, a Chicago-based hedge fund, announced it was closing and over the summer, Fortress Investment Group announced the closure of its macro fund. The news from BlackRock was originally reported by Bloomberg News.<\/p>\n
Rick Pendergraft
\nResearch Analyst
\nHedgeCoVest<\/p>\n","protected":false},"excerpt":{"rendered":"
New York (HedgeCo.net) \u2013 If there is one hedge fund strategy that has struggled more than others this year it would have to be the macro strategy. Because of the strategy\u2019s struggles, a number of firms have closed their macro […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,3,16048],"tags":[],"class_list":["post-50705","post","type-post","status-publish","format-standard","hentry","category-hedgeco-networks-press-releases","category-hedgeco-news","category-hedgecovest-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/50705","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=50705"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/50705\/revisions"}],"predecessor-version":[{"id":50706,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/50705\/revisions\/50706"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=50705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=50705"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=50705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}