Investors are loving the returns from this volatile market, but experienced hands are apparently becoming harder to find:

"The thing about global macro is you have to be a very good trader," said Gavin Rankin, head of investment analysis in Europe at Citigroup Private Bank. "Identifying the trend, timing of trades and risk management are crucial."

Analysts estimate that global macro managers, which control less than 10 percent of the more than $1 trillion (570 billion pounds) estimated to be invested in hedge funds, will generally get around 50 percent of trends right and about 50 percent wrong.

"Global macro is probably one of the most difficult strategies to execute," said Nicolas Campiche, head of manager selection services at Pictet et Cie. "It's very difficult to identify good new global macro managers."

More here, via Reuters.

-- MDT