Macro hedge fund Atlas Global Macro, co-managed by CIO Lars Tvede and portfolio managers Jakob Due and Jakob Sabroe, had significant exposure to Russian securities as part of a commodity supercycle theme ahead of Russia’s invasion of Ukraine. This positioning dealt a severe blow to performance in 2022. After two difficult years of rebuilding, that same conviction in a commodity supercycle ultimately underpinned a strong recovery in 2025, with Atlas Global Macro finishing the year as the best-per...
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