HSBC fund avoids directional bets in choppy markets

Reuters UK – HSBC Halbis fund manager Jim Dunsford is favouring trades exploiting price discrepancies, rather than big bets on market movements, because he believes markets are still in unknown territory.

Dunsford manages the 100 million euro (85 million pound) Halbis Global Macro fund, which uses hedge fund-style techniques to try and make money in all environments.

"We prefer non-directional, relative value bets. We’re living in a very unusual environment and directional bets are risky," Dunsford told Reuters.

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