Two of the main funds at Caxton Associates, one of the oldest and best-known global macro hedge fund managers, lost money last year as 2023 proved to be a turbulent year for bond markets, according to a report by the Financial Times.
The report cites two unnamed people who have seen the numbers as confirming that losses in the London-based firm’s Caxton Macro fund totalled 9.2%, while its flagship Caxton Global Investments fund ended the year down around 1%.
At one point, the macro fund, which trades moves in bonds, currencies, commodities and equities on the back of economic trends, was down around 20% having suffered first-half losses, but partly recovered by the end of the year.
The loss came on the back of a year of strong performance with the macro fund having recorded a gain of around 35% in 2022.
