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Global Macro

Global macro is a hedge fund strategy that bases its holdings - such as long and short positions in various equity, fixed income, currency, and commodities markets - primarily on top-down macroeconomic and political views of individual countries and asset classes.

In the aftermath of the global financial crisis of 2007-09, global macro was one of the few investment strategies that delivered positive returns. Since then global markets have been driven almost solely by macroeconomic decision making; more so than at any time in recent years.  Global Macro: Theory and Practice, edited by industry expert Andrew Rozanov, is the first comprehensive handbook and authoritative guide focusing exclusively on global macro strategies, designed for use by investment professionals involved in constructing and managing institutional portfolios.

£145.00
Availability: In stock
ISBN
9781906348908
 

Global macro is a hedge fund strategy that bases its holdings - such as long and short positions in various equity, fixed income, currency, and commodities markets - primarily on top-down macroeconomic and political views of individual countries and asset classes.

In the aftermath of the global financial crisis of 2007-09, global macro was one of the few investment strategies that delivered positive returns. Since then global markets have been driven almost solely by macroeconomic decision making; more so than at any time in recent years.  Global Macro: Theory and Practice, edited by industry expert Andrew Rozanov, is the first comprehensive handbook and authoritative guide focusing exclusively on global macro strategies, designed for use by investment professionals involved in constructing and managing institutional portfolios.

The book examines different strategies within the global macro sector, focusing on their unique risk-return characteristics and their role and place in an institutional portfolio.  With contributions from a cross section of leading industry practitioners, chapters include:

  • The Role of a Global Macro Strategist
  • Emerging Markets in Global Macro Investing
  • A Prime Broker’s Perspective
  • Systematic Strategies: A Quantitative Approach to Global Macro
  • A Fund of Hedge Fund’s Perspective

The authoritative guide and reference tool for global macro investing, this book is essential for anyone who wants to be better informed when they make their asset allocation, portfolio construction and hedge fund selection decisions.

More Information
ISBN 9781906348908
Navision code MGMI
Publication date 5 Nov 2012
Size 155mm x 235mm
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Andrew Rozanov

Andrew Rozanov is Managing Director and Head of Institutional Portfolio Advisory at Permal Group, responsible for advising sovereign wealth funds and other long-term institutional investors on various aspects of asset allocation, portfolio construction, risk management and alternative investments, with a particular focus on global macro and tail risk strategies. Before joining Permal, Mr. Rozanov was at State Street, where he was Managing Director and Head of Sovereign Advisory, working closely with the Portfolio and Risk Management Group. Prior to that, he held various roles at State Street Corporation in London and Tokyo, and he also worked at UBS Investment Bank in Japan. Mr. Rozanov is well known in the industry for having introduced the term ‘sovereign wealth funds’ in an article in Central Banking Journal in 2005. He is a Chartered Financial Analyst (CFA), a Financial Risk Manager (FRM), and a Chartered Alternative Investment Analyst (CAIA). He holds a Master’s equivalent degree in Asian and African Studies from Moscow State University.

Introduction
Isaac Souede, Permal Group

1.        Global Macro: Origins, History, Prospects
           Andrew Rozanov, Permal Group

2.        Discretionary Global Macro: A Manager’s Perspective
           Kenneth G. Tropin, Graham Capital Management, L.P.

    3.        Systematic Strategies: A Quantitative Approach to Global Macro
               Menachem Sternberg, Eagle Trading Systems, Inc

    4.        The Different Shades of Macro
                Igor Yelnik

    5.        The Role of a Global Macro Strategist
               Grant Wilson, Civic Capital

    6.        Emerging Markets in Global Macro Investing
               Gene Frieda, Moore Capital

    7.        Risk Management in Global Macro Funds
               Barry Schachter

    8.        Geopolitical Risk in Global Macro Investing
               David Murrin, Emergent Asset Management

    9.        Global Macro: A Prime Broker’s Perspective
               Barry Bausano, Deutsche Bank Securities

    10.     Understanding Global Macro Leverage
              John Casano, Financial Diligence Networks LLC

    11.     Global Macro: An Investment Consultant's Perspective
              Simon Fox, Mercer

    12.     Global Macro: a Fund of Hedge Fund’s Perspective
              Omar Kodmani and Andrew Rozanov, Permal Group

    13.     The Case for Global Macro in Institutional Portfolios
              Arjan Berkelaar, KIMC U.S. Inc

    14.     GTAA and Global Macro for Long-Term Institutional Investors
              Gerlof de Vrij, Roy Hoevenaars and Pieter Jelle van der Sluis, Blenheim Capital Management BV