Discretionary macro shop H2O bounces back

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H2O Asset Management, Bruno Crastes’ bond-focused discretionary macro hedge fund, which this year marks its tenth anniversary, has posted sterling year-end gains after facing investor pressure this past summer.

Flagship fund H2O Adagio, which manages about EUR4.6 billion in assets, made 1.2 per cent during December, leading it to a 7.6 per cent annual gain. Adagio launched in August 2010, with a focus on sovereign bonds, credit and currencies.

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