随着全球经济体在多年量化宽松后重回适应高利率，宏观交易在多策略对冲基金中开始扮演越来越重要的角色。政策环境的变化引发了市场波动并为基金经理创造了沃土，亿万富翁投资者Alan Howard上月在阿布扎比罕见公开露面时预测，未来五到十年宏观交易策略将大行其道。Steve Cohen's Point72 Asset Management is growing its macro trading team, and the equity-focused multi-manager investment firm is diversifying its $31 billion hedge fund business.
According to a spokesperson, the division, led by Mo Grimeh, will soon have 51 macro trading teams, and two new employees will join next year. This is five times larger than when Grimeh first joined Point72 three years ago. Previously, Grimeh was the global deputy head of the fixed income division of Izzy Englander's Millennium Management division.
The spokesperson said that Charles Thorburn will join the company from Caxton Associates in January to engage in interest rate trading. Ketan Gada will join the company from Banque Pictet & Cie SA in April to focus on emerging markets. Both will be based in London.
As the global economy returns to adapting to high interest rates after years of quantitative easing, macro-trading is beginning to play an increasingly important role in multi-strategy hedge funds. Changes in the policy environment have triggered market fluctuations and created fertile ground for fund managers. Billionaire investor Alan Howard predicted during a rare public appearance in Abu Dhabi last month that macro-trading strategies will become popular in the next five to ten years.
Although Point72's macro trading business began in 2003, after Grimeh joined the company in 2020, the business developed rapidly under his leadership. He expanded his team and increased Point72's risk tolerance, making targeted and relative value bets on foreign exchange, interest rates, government and corporate bonds, futures, indices, and selected commodity futures markets.
Steve Cohen
The company has added 8 fund managers this year, bringing the total number of macro team members to 49. Recently, Louis Wang joined the company from Third Point last month to engage in credit transactions. Former Barclays trader Julien Ercole joined the company in November to focus on interest rate trading. Julien Cheron moved from Carmignac Gestion to the company this month and is responsible for foreign exchange and interest rate transactions.
This is a hot trader market, and as investor demand for stable returns increases, other multi-strategy hedge funds are also increasing their recruitment efforts. These companies compete to hire and retain senior employees and invest huge sums of money in the battle for talent.
