Three Ms dominate performance in year of hedge fund dispersion

• High level of hedge fund performance dispersion last year: HFR
• Macro, multi-strategy and managed futures/CTA lead hedge fund pack
• Related: Caution rules in long/short equity as year-end approaches

Performance by the three Ms — multi-strategy, macro and managed futures/CTA managers — outshone the rest of the industry in 2022.

Each approach thrived in the immense macro volatility that roiled markets like a rip tide last year.