Bobby Jain’s multi-strategy hedge fund delivered a modest 3.7% net gain in 2025, marking its first full year of trading following one of the largest hedge fund launches in recent history, according to a report by Bloomberg citing unnamed people familiar with the matter.

Performance received a late-year lift after the fund gained 1.5% in December, helping cap a steady, if subdued, inaugural year for the firm. A spokesperson for Jain Global declined to comment.

The results place Jain Global behind more established multi-strategy peers, many of which posted double-digit returns in 2025 amid heightened market volatility driven by geopolitical tensions and shifting US trade policy. Larger rivals such as DE Shaw, Balyasny Asset Management and ExodusPoint Capital were among the beneficiaries of sharp dislocations across equities, rates and macro markets.

Jain, the former co-chief investment officer at Millennium Management, raised $5.3bn in 2024 in what was one of the biggest hedge fund launches on record. The firm began trading on 1 July 2024, finishing that partial year with a gain of 0.5%, and has since expanded to employ more than 300 staff globally.

Jain Global is one of the most closely watched entrants into the crowded multi-strategy hedge fund space, a segment dominated by industry heavyweights such as Citadel and Millennium. The platform-style model relies on diversified teams of portfolio managers operating under tight risk controls, a structure that can take time to reach optimal scale and efficiency.