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Multi-strats limit losses in March mayhem

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ExodusPoint Capital Management and Millennium Management were among the big-name multi-strategy hedge funds that posted small losses amid last week’s market volatility, faring far better than their macro and quant counterparts, according to a report by Bloomberg.

Unnamed Bloomberg sources revealed that ExodusPoint, which was founded by Michael Gelband and focuses on fixed-income trades, lost almost 2% in March through to last Wednesday, paring year-to-date gains to 0.5%, while Izzy Englander’s Millennium lost 1.3% through to Thursday, bringing losses so far in 20223 to  0.8%. 

Macro managers meanwhile, including Graham Capital Management Kos Capital Management, fared less well during last week’s big bond market swings, with the former’s largest hedge fund losing 8.4% this month through 13 March and Rokos Capital Management seeing a 12.5% fall so far in March, according to a report by the Financial Times.

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