Wild swings in the bond markets have proved a big problem for Said Haidar with his flagship Jupiter macro hedge fund set to record its biggest-ever monthly loss since its inception over two decades ago, according to a report by Reuters.
Unnamed Reuters sources have revealed that on Friday, the fund was down by almost a third (32%) for the month, taking year-to-date losses to 44%, a sharp reverse for Haidar’s clients who saw their investments return 193% last year.
According to one Reuters source, Haidar, who is known for his highly leveraged strategy, took a big hit on his short fixed income positions, as bond market volatility soared following the collapse of Silicon Valley Bank earlier this month. Since then, he has pulled all such bets in US and Europe and is now facing losses in excess of his previous record monthly decline of 24.6% in November 2020.
