EDL Capital, the macro hedge fund led by Edouard de Langlade, has posted a 17% return so far in 2025, significantly outperforming broader hedge fund benchmarks, according to a report by Reuters citing an unnamed source familiar with the matter.
The London-based fund, which deploys macroeconomic strategies across currencies, bonds, and equities, finished February up 5.9%, bringing its year-to-date gains to 6.7% at that point. However, March’s heightened market volatility has propelled the fund even higher, with an additional 10% return recorded so far this month.
The strong performance coincided with major macroeconomic shifts, including: a sharp sell-off in German 10-year bonds, marking their largest weekly yield surge since 1990; the euro’s strongest rally since March 2009 as currency markets reacted to shifting interest rate expectations; and the S&P 500’s biggest weekly decline in six months, as investors recalibrated risk exposures.
EDL’s 17% gain year-to-date stands in stark contrast to the 1.3% average return across the hedge fund industry to the end of February, as reported by hedge fund research firm PivotalPath.
