Laurion Capital Closes $1.1B Macro Fund

(FINalternatives) Ben Smith’s Laurion Capital Management has shuttered a large macro hedge fund amid losses and offered investors the option of transferring their capital into one of Laurion’s other funds.

Macro hedge funds, which bet on broad strategic trends within equity, bond, currency and commodity markets, have been under pressure for much of the past 18 months as a series of low-probability/high-impact events, such as China’s devaluation of the yuan last summer or June’s Brexit vote in Britain, create significant volatility around general market direction.

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