While many major hedge funds have struggled in March’s turbulent markets, Chris Rokos’ macro hedge fund has bucked the trend, gaining 3.4% up to the end of last week, according to a report by Business Insider, citing an unnamed source familiar with the firm’s performance.
The $20bn fund is also in positive territory for the year, though exact year-to-date returns remain unclear.
Rokos Capital Management, known for its high-conviction, directional macro trades, has a history of delivering strong returns in volatile environments. The firm made nearly $1bn in a single day following Donald Trump’s 2016 election victory and delivered an impressive 31% return in 2023.
March has proven challenging for many hedge funds, as volatility surged to its highest levels this year due to shifting global trade policies and macroeconomic uncertainty. Brevan Howard, a leading macro player and Rokos’ former firm, suffered losses in its Master Fund earlier in the month, bringing its year-to-date drawdown to over 5%, according to Bloomberg reports.
Beyond macro strategies, multi-strategy powerhouses including Citadel, Millennium, Point72, Balyasny, and Schonfeld also faced setbacks in early March, though industry sources indicate some recovery in recent weeks.
