Via ConvergEx's Nicholas Colas, In this month’s installment of our regular series on liquid alternatives, we cover the most popular hedge fund strategy of institutional investors globally: Alternative Global Macro Funds. These funds capitalize on macroeconomic developments, so the Federal Reserve’s impending decision to hike rates is just one catalyst drawing investors to the strategy. Also known as a “go anywhere” investment style, active managers employ opportunistic trading tactics across asset classes, financial instruments, and geographic regions. Active managers establish positions based on analysis and forecasts of economic cycles, interest rates, commodities, and global capital flows, for example. Representing...