March round-up: Macro meltdown, CTA capsize, risk-off retreat

April 3, 2023

2022 winners macro and CTA post losses; multi-strat escapes major decline
Related: Hedge funds face record losses in market chaos
Related: CTAs capsize in bond market reversals in March

Market turmoil sparked by banking crises in March brought widespread reverses for macro and CTA managers, two of the main performance winners last year.

The surprise turnaround in bond prices was the key loss driver, though multi-strat managers, the other key 2022 winners, largely dodged the losses. Here is AFI’s monthly round-up.

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