How global macro hedge funds can capitalise on the “looming” economic normalisation Submitted By Hugh Leask | 15/12/2020 - 3:45pm Global macro hedge funds from across the emerging market, systematic and discretionary spectrum may be well-placed to capitalise on prevailing equity valuations amid economic “normalisation”, Lyxor Asset Management strategists said this week. While discretionary global macro funds offer a tactical bias, which appears relevant “at the trough of the business cycle”, emerging market-focused macro managers benefit from stronger credit profiles of energy and metal exporters amid rising commodity prices.