Abbey Capital ready tolaunch global macro fund

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Abbey Capital will launch a global macro fund later this year, after successfully reaching $1bn in a...

Abbey Capital will launch a global macro fund later this year, after successfully reaching $1bn in assets. Tony Gannon, founder and chief executive at Abbey Capital, said the group had been canvassing demand for a discretionary macro fund following a request from a client. "Critical mass is vital for a fund like this," Gannon noted. "You need $50m to $100m at launch, otherwise you just do not have the cost efficiencies." Abbey, which runs managed futures and FX programs, has recently surpassed the $1bn mark for allocated assets, with strong inflows from new and existing clients, he said....