Taula Capital down 9.4% as volatile rates market hits macro hedge funds
Taula Capital Management, the hedge fund firm founded by former Millennium portfolio manager Diego Megia, has suffered a 9.4% decline this year up to 18 September following another difficult month for macro traders, according to a report by Bloomberg. The report cites unnamed people familiar with the matter as saying that the London-based firm fell 4.3% in September, reversing part of the…
Taula Capital Management, founded by ex-Millennium portfolio manager Diego Megia, experienced a 9.4% decline in value through 18 September, according to Bloomberg. The London-based firm suffered another tough month for macro traders, with a 4.3% drop in September, after a recovery phase earlier in the year. Publicly disclosed performance data is unavailable for the fund.
The recent setback follows a volatile period for global interest rates markets. Two-year US Treasury yields surged following the Federal Reserve's first interest rate hike since 2023. Concurrently, Brent crude prices surged above $100 a barrel, prompting a rapid reassessment of the global interest rate outlook. These market changes caused yield curves to drop and posed challenges for macro-focused hedge funds.
Taula was affected earlier this year when US and Israeli military strikes against Iran disrupted financial markets and increased energy prices. This disruption complicated expectations for central-bank easing and negatively impacted several macro strategies. The hedge fund had been recovering from earlier losses before the September volatility.
Megia launched Taula in 2024, one of the hedge fund industry's biggest launches by a new manager, with $3 billion from Millennium, his previous employer. The firm now manages over $9 billion in assets and has hired senior traders to enhance its investment capabilities.
Written by urgent.news from Hedgeweek's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
