AH Macro UCITS Index

Macro is an investing strategy that seeks to profit from broad market opportunities that may arise from macroeconomic or political events by taking long and short position across different asset classes, such as equity indices, rates, commodities and currencies.

Strategy AUM
31 December 2023
£21.6b
-25.4% YoY

Performance

Monthly Returns

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC YTD
2024 0.1 0.2 0.2
2023 1.2 -0.6 0.2 0.0 -0.2 -0.5 0.5 0.2 0.4 -0.2 0.7 1.3 3.0
2022 -0.1 -1.5 0.6 0.4 0.1 -1.3 0.0 0.7 -1.0 0.3 1.2 1.0 0.5
2021 -0.4 0.8 0.6 0.3 0.3 0.0 -0.6 0.5 0.0 -0.7 -0.8 1.1 0.9
2020 -0.2 -1.4 -5.8 1.5 2.0 0.6 0.8 1.0 -0.7 0.0 2.4 1.1 1.0
2019 1.5 0.1 0.4 0.7 -0.4 1.0 0.3 0.3 0.9 0.5 -0.1 1.1 6.3
2018 1.3 -0.8 -0.7 0.4 -1.3 -0.6 0.4 -1.6 0.3 -0.6 -0.2 -0.3 -3.8
2017 -0.2 0.1 0.5 0.2 0.3 0.3 0.1 0.0 0.4 0.4 -0.3 -0.3 1.7
2016 -0.7 -0.7 0.3 0.5 0.0 -1.0 0.8 0.1 -0.4 1.1 -1.0 1.0 0.0
2015 0.9 0.7 0.2 0.1 0.4 -1.1 0.1 -1.2 -1.3 0.7 -0.1 -0.8 -1.4
2014 -0.8 0.4 0.1 -0.3 0.7 -0.5 0.1 0.0 0.7 -0.4 0.5 -0.7 -0.3
2013 1.2 0.0 0.1 0.5 0.8 -1.4 0.1 -0.7 0.2 0.8 0.1 0.5 2.3
2012 1.3 1.0 -0.3 -0.9 -1.1 -0.2 0.9 0.3 0.4 -0.2 0.1 0.4 1.7
2011 -0.5 0.6 -0.1 0.4 -0.7 -1.5 -0.2 -1.7 -1.5 1.1 -0.3 0.2 -4.1
2010 -0.2 0.8 1.9 0.4 -2.5 -1.0 0.4 1.1 1.3 0.0 0.1 1.4 3.7
Show all
  • Region Global
  • Currency Local Currency
  • Frequency Monthly Rebalancing
  • Methodology Equally Weighted
  • Download Index Return Series

Index Constituents

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Name Inception Date Sub-Strategy Geography AUM AMC Perf. Fee Hurdle Min Inv. Liquidity MTD YTD 2023 1W 1M 3M 6M 1Y 2Y 3Y ISIN Liquidity Domicile Inv. Adviser Portfolio Manager UN PRI Signatory Companywide ESG Policy SFDR ESG Data Integration Active Ownership ESG Exclusion List Return Consistency
Percentile Rank
Performance
Percentile Rank
Diversifier
Percentile Rank
Downside Protection
Percentile Rank
Low Risk
Percentile Rank
Acadian Multi-Asset Absolute Return Feb 2018 Systematic Global £114m 1.39% 0% No 10,000,000 Daily 1.7 -6.3 0.9 1.1 -1.1 -2.5 -6.0 -0.9 -1.0 IE000X5JMAS7 Daily Ireland Acadian Asset Management Yes Yes Article 6 No N/A N/A 66 33 91 81 66
Allianz Fixed Income Macro Jul 2018 Opportunistic Global £17m 0.70% 10,000,000 Daily -0.1 1.3 8.3 0.0 2.3 3.9 8.2 9.9 4.6 -2.6 GB00BG43NG36 Daily UK Allianz GI Mike Riddell Yes Article 6 Yes 7 20 46 31 27
Amundi Absolute Return Forex Oct 2013 Opportunistic Global £59m 0.40% 15% 5,000,000 Daily 0.4 2.2 0.0 0.2 0.7 1.3 2.4 3.8 3.5 LU0987184941 Daily Luxembourg Amundi Asset Management James Kwok Article 6 96 35 88 70 89
Amundi Bridgewater Core Global Macro Fund Sep 2019 Systematic Global £579m 1.50% 15% No 500,000 Daily 1.2 4.3 -0.1 1.2 2.6 3.5 5.2 -0.5 8.9 IE00BKDKNP28 Daily Ireland Bridgewater Associates LP Yes Yes Article 6 No N/A N/A 64 45 29 34 61
Amundi Global Macro Bonds & Currencies Dec 2013 Diversified Multi Asset Global £23m 0.40% 15% 500,000 Daily -1.0 -3.0 -0.3 -1.2 -0.4 1.0 -2.2 -11.5 -12.0 LU0996171368 Daily Luxembourg Amundi Asset Management Ryan Myerberg Article 6 8 7 20 25 19
Amundi Global Macro Bonds & Currencies Low Vol Apr 2005 Diversified Multi Asset Global £20m 0.30% 15% 500,000 Daily 0.3 2.4 -0.1 -0.3 0.8 2.3 3.2 -2.7 -4.1 LU0210817879 Daily Luxembourg Amundi Asset Management Ryan Myerberg Article 6 9 17 10 35 41
Anima Global Macro Feb 2018 Diversified Multi Asset Global £72m 0.60% 20% Daily -0.3 2.4 0.0 -0.8 2.6 4.0 3.7 -10.6 -11.5 IE00BD97PK72 Daily Ireland Anima Sgr Gianni Pola 10 6 8 19 15
Artemis Strategic Assets May 2009 Opportunistic Global £205m 0.75% 0% 10,000,000 Daily 0.2 0.7 3.7 0.0 0.2 0.8 0.6 0.0 28.1 17.3 GB00B3VDDQ59 Daily UK Artemis Fund Managers William Littlewood Article 6 40 41 32 34 40
Aviva Investors Multi-Strategy Target Return Jul 2014 Diversified Multi Asset Global £2.6b 0.75% 500,000 Daily 0.8 5.6 0.0 1.0 3.3 7.1 6.0 15.6 15.3 GB00BMTRW090 Daily UK Aviva Investors Multi Asset Team 84 72 44 41 79
Bellevue Funds (LUX) BB Global Macro Mar 2010 Opportunistic Global £65m 0.80% 15% 3M Libor 0 Daily 0.6 8.5 -0.3 -0.3 3.4 5.7 8.8 3.7 -4.3 LU0494762056 Daily Luxembourg Bellevue Asset Management Lucio Soso, Alexandrine Jae... 14 19 11 15 23
BlueBalance Global Opportunities Fund Nov 2019 Diversified Multi Asset Global £160m 0.70% 10% 125,000 Daily 1.6 9.5 0.2 0.6 2.0 5.2 8.0 14.6 5.2 LU2022233972 Daily Luxembourg BlueBalance Capital Dr. Lukas Goetz, Markus Sch... 54 51 67 73 56
BlueBay Global Sovereign Opportunities Dec 2015 Opportunistic Global £379m 0.95% 15% 500,000 Daily 1.4 5.6 0.0 -0.2 -0.3 1.7 5.2 23.4 19.2 LU1337225210 Daily Luxembourg BlueBay Asset Management LLP Russel Matthews Article 8 91 85 94 82 60
Brevan Howard Absolute Return Government Bond Fund Jul 2019 Opportunistic Global £2.1b 0.30% 15% 1,000,000 Daily 0.1 0.9 -0.4 -0.3 0.8 4.8 1.1 6.3 15.3 LU1917106814 Daily Luxembourg Brevan Howard Asset Management Adam Purzitsky, Paul Shanta... 87 82 67 82 71
FTGF Legg Mason Western Asset Macro Opportunities Bond Nov 2013 Opportunistic Global £1.1b 1.10% 0% No 30,000,000 Daily 0.6 -3.5 13.8 0.7 -2.6 3.7 4.7 8.9 0.4 -8.3 IE00BC9S3W16 Daily Ireland Legg Mason Global Asset Man... S. Kenneth Leech, Prashant ... Yes Yes Article 6 No N/A N/A 15 8 19 4 5
Fulcrum Diversified Absolute Return Fund (Lux) Feb 2017 Diversified Multi Asset Global £570m 0.75% 0% No 10,000,000 Daily 0.6 3.3 1.1 1.0 2.2 4.9 6.0 5.2 8.3 11.8 LU1551069302 Daily Luxembourg Fulcrum Asset Management LLP Yes Yes Article 6 No No N/A 56 61 82 58 89
GAM Star Emerging Market Rates Apr 2010 Opportunistic Emerging Markets £14m 0.85% 10% 20,000,000 Daily -2.6 -0.5 -0.1 -1.9 -2.8 -3.9 -4.7 -12.0 -15.2 IE00B5TN9J68 Daily Ireland GAM Investments Paul McNamara, Denise Prime No No Article 6 No N/A N/A 13 5 28 20 24
GAM Star Global Rates Nov 2009 Opportunistic Global £226m 1.00% 10% Yes 0 Daily 1.2 7.8 0.3 -0.2 1.1 4.0 11.2 26.2 35.1 IE00B59CJW65 Daily Ireland GAM Investments Adrian Owens Yes Yes Article 8 Yes N/A N/A 85 94 95 62 84
GMO SGM Major Markets Investment Fund Feb 2017 Systematic Global £16m 1.00% 5,000,000 Daily -0.3 1.3 4.1 -0.5 1.5 2.0 5.4 2.9 7.2 0.3 IE00BDS6C592 Daily Ireland Grantham, Mayo, Van Otterlo... Jason Halliwell, Sean Gleason 33 23 95 80 38
Goldman Sachs Strategic Macro Bond Oct 2014 Opportunistic Global £139m 0.50% 10% 1,000,000 Daily 0.1 -0.1 8.0 0.2 -0.7 0.8 3.4 5.9 7.2 5.9 LU1533065592 Daily Luxembourg Goldman Sachs Asset Managem... GSAM Article 8 42 17 71 72 40
Graham Macro UCITS Jan 2018 Opportunistic Global £1.1b 1.85% 20% Daily 2.8 2.4 -0.1 1.8 0.5 2.3 2.1 23.1 28.1 IE00BFNWR956 Daily Ireland Graham Capital Management L.P. Article 6 89 91 68 97 77
H2O Adagio Jul 2013 Opportunistic Global £378m 0.35% 25% 100,000 Daily -1.1 8.9 0.0 -0.6 -1.2 2.6 4.6 20.3 18.3 FR0012489730 Daily France H2O Asset Management Article 6 79 80 41 38 76
H2O Allegro Mar 2011 Opportunistic Global £237m 0.70% 20% 100,000 Daily -5.9 18.8 -0.5 -4.3 -7.2 -0.1 5.9 78.6 49.4 FR0013393220 Daily France H2O Asset Management Article 6 73 99 51 23 42
H2O Vivace Mar 2011 Opportunistic Global £196m 1.00% 20% 100,000 Daily -9.6 20.8 -0.1 -5.5 -10.2 -3.4 -4.2 50.3 49.8 FR0011015478 Daily France H2O Asset Management Article 6 63 100 68 76 35
HESPER - Global Solutions Jun 2019 Diversified Multi Asset Global £53m 0.60% 10% Yes 100 Daily 0.2 2.2 -3.9 -0.7 2.4 4.4 3.8 0.4 -3.4 4.6 LU1931806399 Daily Luxembourg ETHENEA Independent Investo... Federico Frischknecht, Andr... Yes Yes Article 8 Yes Yes Yes 46 37 83 75 41
IAM BTG Pactual G10 Rates Sep 2023 Opportunistic Global £87m Daily 0.5 0.0 0.4 0.5 IE000YAIGBK5 Daily Ireland BTG Pactual John Fath
IAM Welton Multi-Strategy Global Macro UCITS Fund Oct 2022 Systematic Global £78m 1.50% 20% No 1,000,000 Daily 0.4 -14.4 -0.2 2.6 -0.1 -6.0 -12.0 IE000FJPVJV9 Daily Ireland International Asset Management Patrick Welton Yes Yes Article 6 No N/A N/A
Insight Global Absolute Return Feb 2013 Diversified Multi Asset Global £431m 0.75% 250,000 Daily 0.5 2.9 5.1 0.2 2.2 4.8 5.4 7.2 1.7 5.2 GB00B83VQG35 Daily UK BNY Mellon Asset Management Steve Waddington 46 34 3 21 54
Invesco Global Targeted Returns Sep 2013 Diversified Multi Asset Global £293m 0.87% Daily 0.1 0.2 5.9 0.3 -0.2 1.8 3.5 5.0 11.1 5.9 GB00B8CHD613 Daily UK Invesco Asset Management David Millar, Richard Batty... Article 6 38 40 47 51 58
Invesco Global Targeted Returns (Lux) Dec 2013 Diversified Multi Asset Global £231m 0.70% Daily 0.2 0.6 5.5 0.5 0.0 2.1 3.7 5.2 10.5 4.8 LU1004133531 Daily Luxembourg Invesco Asset Management David Millar, Dave Jubb, Ri... Article 6 30 34 44 46 51
Invesco Macro Allocation Strategy Sep 2015 Systematic Global £15m 0.75% 1,000 Daily 0.9 0.5 -1.2 0.8 0.1 4.4 2.0 0.1 -8.3 -11.7 LU1233165411 Daily Luxembourg Invesco Advisers Inc. Scott E. Wolle Article 6 4 6 40 21 11
JPM Global Macro Nov 2005 Opportunistic Global £403m 0.60% 10,000,000 Daily 0.1 1.1 1.8 0.1 0.3 0.2 0.6 1.3 -1.4 -3.4 LU0235842555 Daily Luxembourg J.P.Morgan Asset Management Shrenick Shah, Benoit Lanct... Yes Article 6 20 21 89 55 44
JPM Global Macro Opportunities Jan 2013 Opportunistic Global £880m 0.75% 5,000,000 Daily -0.2 1.8 -0.6 0.1 0.6 0.1 0.3 -0.7 -5.9 -6.9 GB00B4WKYF80 Daily UK J.P.Morgan Asset Management Shrenick Shah Yes Article 6 14 14 79 52 16
JPM Global Macro Opportunities (LUX) Apr 2005 Opportunistic Global £2.5b 0.65% Daily 0.2 1.3 -1.8 0.1 0.2 -0.6 -1.0 -2.3 -9.5 -12.5 LU0095938881 Daily Luxembourg J.P.Morgan Asset Management Shrenick Shah Yes Article 6 2 8 84 42 10
JPM Global Macro Sustainable Aug 2019 Opportunistic Global £744m 0.60% 10,000,000 Daily 0.1 0.5 -0.3 0.0 -0.1 -0.7 -0.5 -1.1 -5.7 -8.8 LU2003419376 Daily Luxembourg J.P.Morgan Asset Management Shrenick Shah Article 8 11 12 82 50 21
Jupiter Strategic Absolute Return Bond Fund May 2014 Opportunistic Global £522m 0.40% 10% Yes 1,000,000 Daily 0.2 -0.6 3.1 0.4 -0.2 1.3 3.2 2.5 9.4 8.1 IE00BD9GFP91 Daily Ireland Jupiter Investment Manageme... Mark Nash No No Article 6 No N/A N/A 94 60 75 76 99
KLS Arete Macro Jul 2018 Opportunistic Global £472m 1.25% 20% No 1,000,000 Daily 2.2 11.5 -0.7 -0.6 3.5 6.7 13.5 12.0 8.4 IE00BDRV1V45 Daily Ireland Ocean Arete Limited Will Li Yes Yes Article 8 Yes N/A Yes 26 57 74 42 37
Lemanik SICAV Global Strategy Jul 2007 Opportunistic Global £114m 0.60% 20% EURIBOR 500,000 Daily -4.0 -13.6 -0.2 -3.3 -3.5 -5.1 -11.6 -18.6 -25.3 LU0438908328 Daily Luxembourg Lemanik SA Maurizio Novelli 4 2 71 96 4
L&G Multi-Asset Target Return Fund Mar 2015 Diversified Multi Asset Global £427m 0.65% 1,000,000 Daily 0.4 1.1 5.3 0.7 -0.1 2.7 5.1 3.5 5.4 4.5 GB00BD97XY71 Daily UK Legal & General Investment ... Emiel van den Heiligenberg,... 44 43 38 34 35
LIOR GP - Alpha Fund Mar 2021 Opportunistic Global 1.15% 20% Yes 1,000,000 Daily 0.0 LU2263804002 Daily Luxembourg LIOR Global Partners Jeremy Touboul Yes Yes Article 8 Yes No Yes
M&G (Lux) Episode Macro Fund Oct 2018 Opportunistic Global £418m 0.75% 20% Yes 500,000 Daily 0.8 -1.3 8.9 0.6 -0.1 2.1 4.6 5.4 24.1 25.3 LU1670714069 Daily Luxembourg M&G Investments David Fishwick and co deput... Yes Yes Article 6 No N/A N/A 81 82 66 77 77
MontLake Alpstone Global Macro UCITS Fund Oct 2023 Opportunistic Global £25m 1.50% 20% No 1,000,000 Daily 0.2 -0.1 0.6 1.1 IE000P7DL099 Daily Ireland Alpstone Capital Frederic Favre & Alexandre ... Yes Yes Article 6 No N/A N/A
MontLake Oriel - P/E FX Strategy May 2016 Systematic Global £164m 2.00% 20% 50,000 Daily 9.4 4.7 1.1 3.4 5.6 3.0 10.9 29.5 50.2 IE00BYQD3C34 Daily Ireland P/E Investments 74 94 57 100 38
Neuberger Berman Tactical Macro Fund Jun 2023 Opportunistic Global £21m 0.80% 0% No 1,000,000 Daily 0.2 0.2 0.2 -0.4 0.2 1.3 IE000PD59QT4 Daily Ireland Neuberger Berman Robert Surgent Yes Yes Article 6 No Yes N/A
Ninety One Global Macro Allocation Feb 2018 Diversified Multi Asset Global £559m 0.75% 1,000,000 Daily 0.7 3.2 2.5 0.4 2.3 -1.7 12.0 7.0 6.4 41.0 LU1745457744 Daily Luxembourg Ninety One Iain Cunningham, James Elliot 25 48 33 25 19
Ninety One Global Macro Alternative Oct 2022 Diversified Multi Asset Global £58m 0.75% 0% No 1,000,000 Daily -6.9 -7.7 0.0 -2.5 -1.3 -4.8 -10.3 GB00BP2B5993 Daily UK Ninety One James Elliot & Alex Holroyd... Yes Yes Article 6 Yes Yes Yes
Pacific G10 Macro Rates Mar 2019 Opportunistic Global £160m 0.75% 10% Yes 1,000,000 Daily 2.0 6.3 0.2 1.0 0.8 3.4 6.5 7.4 6.3 IE00BG5J0Y77 Daily Ireland Pacific Asset Management Shayne Dunlap, Richard Mars... Yes Yes Article 6 No N/A N/A 32 45 45 55 51
PGIM Wadhwani Keynes Systematic Absolute Return Fund Sep 2019 Systematic Global £192m 0.75% 0% No 10,000,000 Daily 2.0 -2.9 0.3 1.5 4.0 4.2 0.4 12.2 13.6 IE00BJV2JR76 Daily Ireland PGIM Wadhwani Sushil Wadhwani No No Article 6 No N/A N/A 73 78 91 89 81
PrivilEdge - Graham Quant Macro Jun 2020 Systematic Global £167m 0.85% 15% 1,000,000 Weekly 8.9 4.7 0.5 5.6 6.6 4.2 5.1 30.2 20.5 LU2183933816 Weekly Luxembourg Graham Capital Management L.P. Graham Capital 64 61 84 91 50
Prosper Global Macro Jun 2014 Diversified Multi Asset Global £55m 1.20% 15% none 15,000 Daily 1.3 4.7 -0.1 0.5 1.8 3.5 6.3 7.1 16.0 LU0927891365 Daily Luxembourg Plurimi Investment Managers Patrick Armstrong, Eugen Fo... 69 80 39 52 88
RV Capital Asia Opportunity UCITS Sep 2016 Opportunistic Asia £147m 1.55% 20% No 1,000,000 Daily 1.3 2.3 1.0 5.4 4.6 0.5 7.0 7.0 IE00BF6SX250 Daily Ireland RV Capital Management Ronnie Roy Yes Yes Article 8 Yes N/A Yes 71 51 66 72 83
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Current Site Absolute Hedge is a market leading UCITS research database providing proprietary research on funds, themes and strategies in the UCITS space. Kepler Trust Intelligence is produced by the investment companies team at Kepler Partners and is the UK’s premier source of detailed qualitative research on investment trusts. Kepler Liquid Strategies is a Dublin domiciled UCITS fund platform featuring a number of best-of-breed fund managers. Kepler Partners is a corporate advisory and asset raising boutique specialising in the regulated funds market in Europe and investment trusts in the UK.