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Synopsis After years of being outgunned and outclassed by computer-driven quantitative strategies, human stock-pickers climbed back on top in 2020. Getty Images At the same time, macro managers, many of whom have complained about years of low volatility, finally got what they wanted. By Hema Parmar, Katherine Burton and Nishant Kumar Turns out, the hedge fund industry’s swashbucklers haven’t been made obsolete by the machines just yet. After years of being outgunned and outclassed by computer-driven quantitative strategies, human stock-pickers climbed back on top in 2020. The dizzying g...

Sponsored Investors in credit hedge funds, which are generally designed to provide stability to portfolios, had a wild ride in 2020. If not for the Fed, it could have been a lot wilder.  In March, when markets cratered as global economies shut down because of Covid-19, PivotalPath’s mortgage-backed securities and structured credit index — which represents hedge funds invested in the sector — plummeted 18.6 percent. But the category has mostly recovered since then: PivotalPath’s index is down 1.8 percent for the year as of the end of November. Investors should thank the U.S. Federal R...