
ION MACRO FUND
Different Times Call for a Different Approach
Launched on September 1, 2024, ION Macro Fund is a NYC-based discretionary global macro fund designed to deliver superior risk-adjusted returns uncorrelated with the broad US equity market. Managed by industry veteran Michael Shaoul, ION Macro Fund employs a top-down approach coupled with strong bottom-up support to construct a high-conviction portfolio.
The fund seeks to capitalize on misunderstood economic and industry developments, enabling the fund to identify mispriced financial instruments across global markets. This approach, together with Michael’s 20+ years of Macro analysis and investing experience, allows the fund to adapt to changing market conditions.
The Opportunity Set
“Most People are Right about Most Things Most of the Time”
Our principal discipline categorizes market behavior into Type I & Type II errors.

We aim to build a differentiated, high-conviction, concentrated portfolio based on our contrarian perspectives.
ION Macro Fund in the Media
Schwab Network Morning Trade Live Interview | May 18, 2026 | Michael Shaoul: Reflation Risks Rise as Rate Cuts Fade
Schwab Network Morning Trade Live Interview | April 13, 2026 | Michael Shaoul: Iran Risk, Oil Prices, and an Energy‑Led Market Shift
Bloomberg Surveillance: Iran War Rattles Energy Trade | March 3, 2026 | Michael Shaoul: Market Impact of US Intervention and Global Fragmentation
Schwab Network Morning Trade Live Interview | January 12, 2026 | Michael Shaoul: Fragmentation and Global Markets

CONTACT US
For general inquiries, please fill in the following contact form:
89 Medinat Hayehudim St.
Building E, 13th + 14th
Israel, Herzliya 4676672
Email: ir@ion-am.com
23 East 73rd Street, 7th Floor
New York, NY 10021
