Rokos Capital Management Said To Gain 3.3% In Macro Fund Last Month

Oct 10 2017 | 7:58pm ET

The flagship hedge fund at Chris Rokos’ Rokos Capital Management reportedly gained enough last month to make a significant dent in losses suffered through the first eight months of the year.

The Rokos Global Macro Master Fund is said to have gained +3.3% in September, according to a Bloomberg article citing unidentified individuals familiar with the matter. It was down -5.1% in the first half of 2017, the article continued, but had narrowed the loss to just -1.2% by the end of last month. 

Macro hedge funds, which make bets on broad economic trends through positions in global equity, bond, commodity and currency markets, have struggled in recent years amid persistently low interest rates and an unprecedented lack of volatility among various asset classes. 

That said, macro funds have been on the rise so far this year, with Eurekahedge’s Macro Hedge Fund Index gaining +2.79% through the end of September. Investors, meanwhile, have been returning to the segment, pouring nearly $18 billion into macro funds in the first eight months of the year, according to industry fund flows data from eVestment.

Rokos co-founded Brevan Howard Asset Management with Alan Howard before raising $3.5 billion to launch his own firm in 2015. His main fund returned around 20% last year on volatility in bond yields, currency plays and Donald Trump’s unexpected victory in the U.S. presidential election. He reopened the fund in late 2016 to raise an additional $2 billion, and now manages approximately $7 billion in assets. 

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