8th Apr 2020 - 12:05pm Dispersion reigns as macro managers and CTAs advance while equity hedge funds collapse Submitted By Hugh Leask | 08/04/2020 - 12:05pm Dispersion reigned among different hedge fund strategies during a turbulent March, with global macro and trend-following funds posting positive returns while equity-focused managers tumbled sharply. A deepening of Covid-19 fears across the global economy sparked unprecedented losses in markets and dramatically reversed last year’s buoyant risk-on environment.