Will Eclectica's Hendry be in the money this afternoon?

The European Central Bank is expected to cut rates this afternoon in a bid to help revive the ailing eurozone - a move which stands to benefit hedge fund manager Hugh Hendry.

With fiscal austerity taking hold across much of the single currency zone and even Germany showing signs of a modest downturn, economists expect the ECB to cut its main refinancing rate from 1% to 0.75%. The move would complete a 12-month U-turn for the central bank, which this time last year raised interest rates to 1.5% despite signs the eurozone crisis was deepening. Reports from 2011 suggested that Hendry, the founder of Eclectica Asset Management, stands to make a significant return should the ECB cut this year. The manager reportedly viewed investors' faith in the enduring ha...