Quant Hedge Fund Aspect Mints 21% Return Playing Currency Market [BNN Bloomberg (Canada)]
SOCIETE GENL FRNCE S/ADR (SCGLY)
NASDAQ:AMEX Investor Relations:
societegenerale.com/en/investors
Company Research
Source: BNN Bloomberg
The $7.5 billion London-based hedge fund has seen a 21% year-to-date return in its flagship fund, thanks to bets on currency markets and commodities. That beats the average 14% return for its trend-following peers and 3% for discretionary macro managers, according to Societe Generale SA's indexes. Unlike traditional funds that trade based on directional macroeconomic views, Aspect's models are designed to just follow the market. It's a type of investing that has flourished this year, as the consensus on US interest-rate cuts coming into 2024 crumbles. The fund is profiting from positioning for a stronger dollar, as markets veer toward Federal Reserve rates staying higher for longer. By contrast those sticking to their macro views have suffered, as traders slash bets on US rate cuts to just one or two in 2024, down from expectations for six early this year. “Inflation rates go up like a rocket and down like a feather, so it's not going to be a clear path forward for the major ec
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