ore precipitously — for a one-month loss of 50%, Bloomberg reported. At the same time, a number of other prominent global- 9 macro shops including Brevan Howard Asset Management and Element Capital booked hefty profits in May because they had been short Italian debt. Field Street's professional staff has shrunk from 60 in

Largest Hedge Fund Firms2 Hedge Fund AUM (Sbn) 1 Bridgewater Associates 76.10 2 J.P. Morgan Asset Management3 53.60 3 Man Group° 36.50 4 Brevan Howard Asset Management 34.20 5 Winton Capital Management 29.96 6 Och Ziff Capital Management 28.80 7 BlackRock 28.76 8 BlueCrest Capital Management 28.60 9 B

a "visiting advisor' at the Federal Reserve Board, where he had earlier worked as a staff economist. He also has managed global-macro portfolios at Brevan Howard Asset Management and UBS O'Connor. In market commentary published by Jefferies last week, Zervos weighed in on the question of how quickly the Fed will wind down

5 30 Apr (0.28%) (0.31%) -3.84% 7.21% 2.97% 2.78% 4.72% (5.89%) MARKETS LOCAL FIXED INCOME FUND Mar 14 14 Feb13. Feb 14 Filippo Cipriani, Brevan Howard Asset Management Systematic Ytd Avg. 2014 (10.28%) Ytd Avg. 2014 Systematic/Global (10.28%) EAGLE QUANTITATIVE MACRO FUND LTD 30 Sep 06 M $417M 153.86 30 A