Macro hedge funds started 2026 with robust performance, with Haidar Capital Management leading, as managers capitalises on market volatility, while multi-strategy giants delivered steady returns, according to a report by Bloomberg.

Haidar’s macro fund surged 19% in January, just shy of its biggest monthly gain in two-and-a-half years, according to an investor letter seen by Bloomberg. Discovery Capital, run by Rob Citrone, gained 7.5%, while Brevan Howard’s flagship macro fund posted 4.4%. Among multi-strategy funds, Steve Cohen’s Point72 delivered 2.9%.

Markets saw significant swings across commodities, currencies, and equities. The S&P 500 reached record highs before retreating mid-month, while commodities faced a sharp sell-off. Currency markets were also volatile, with the dollar weakening on intervention speculation and gold briefly topping $5,000 an ounce before falling.

The strong start follows a record year for hedge fund inflows in 2025, with investors adding $116bn, the most since 2007. Discretionary macro was among the strategies attracting the most interest, with surveys showing allocators expect it to be a top performer this year.