Billionaire macro trader Chris Rokos’s hedge fund posted returns of 2.4% in September, steering the asset manager further out of double-digit declines earlier this year.
(Bloomberg) — Billionaire macro trader Chris Rokos’s hedge fund posted returns of 2.4% in September, steering the asset manager further out of double-digit declines earlier this year.
The performance bolstered his $15.5 billion macro hedge fund’s returns to 7% this year, according to people familiar with the matter who asked not to be identified because the information is private.
A representative for London-based Rokos Capital Management declined to comment.
Wild swings in interest-rate markets at the start of 2023 set the fund off to a rocky start, with losses of more than 15% in the first half of March. Rokos subsequently de-risked the portfolio and bet big on technology in the second quarter of the year.
Macro hedge funds have staged a recovery from losses in the first half, gaining 1.2% on average during the third quarter, according to data compiled by Bloomberg.
Rokos, worth around $1.7 billion according to the Bloomberg Billionaires Index, co-founded hedge fund giant Brevan Howard Asset Management in 2002 and made profits of about $4 billion during his 10-year tenure at the firm. He started trading for his own hedge fund in October 2015.
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