Macro P72
Any colour on how P72 is as a macro platform + pods/performance?
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I have heard it's decent. Not as good as Citadel or Millennium though
Bump
a good chunk of their capital is allocated to macro strategies. main focus of the fund remains equity long short though
They are mostly focused on equity LS.
They have been hiring strong in Europe in macro, I know fixed income people from sell side moving to P72. They have strong support economists running good macro forecast for traders.
Their stats: decent CAGR (~10), sharpe above 1 but steep drawdown during covid.
In short: either not enough macro or not enough positive skew strategies within macro… both are red flags from portfolio construction perspective, which worries me as multi strat is all about risk and port construction.
Overall they are strong, but if I could pick whatever I want as client excluding Citadel and Millennium (still very unrealistic assumption!!!!) not sure if I rank them among top 10 HFs to allocate money. But realistically you invest in what is available, so they might be a good enough option for most investors.
Are these stats referring to macro only or are you referring to the entire fund (which has mostly L/S as you mentioned)
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