The AH Global Index was flat in October, leaving YTD gains unchanged at 3.6%. There was high dispersion of returns at the strategy level, with the AH Macro gaining +0.50% while Managed Futures managers struggled, down -2.87%. In this report we detail the monthly performance of funds within the universe.

Performance was positive again in Q3 with the AH Global Index gaining 0.5%, bringing YTD gains to 3.6%. Managed Futures continue to have a standout year with the AH Managed Futures Index up 10.2%, with most of the flagship programmes comfortably into double digit positive territory. 

Market dynamics and relationships have rapidly changed since the financial crisis, driven in large part by the ongoing monetary policy backdrop, and many traditional macro managers have struggled to adapt to this environment.  In this research paper we examine the returns generated by the cohort of UCITS macro funds.