Rokos up 4.2% in September as macro hedge funds navigate bond rout
Rokos Capital Management gained 4.2% in September as its macro strategy capitalised on volatile global bond markets, lifting the hedge fund’s return for the year to 13.5%, according to a report by Bloomberg. The $22bn firm, founded by Chris Rokos, was among a group of macro and quantitative managers to post strong gains during a difficult month for many hedge funds, according to people familiar…
Rokos Capital Management experienced a 4.2% increase in September, contributing to a year-to-date return of 13.5% for the hedge fund, according to Bloomberg. Founded by Chris Rokos, the $22bn firm was among several macro and quantitative managers to record strong gains during a challenging month for many hedge funds. Rising oil prices and ongoing conflict stemming from the Iran war heightened worries about inflation, while evolving expectations regarding central bank policy sparked a significant sell-off in global bond markets.
Other macro-oriented firms also capitalized on the market volatility. Haidar Jupiter achieved a 17.7% gain in September, bringing its year-to-date return to 20%, while Graham Quant Macro surged 5.36% to reach 21.9% for the year. DE Shaw's Oculus strategy gained 4.3% in September and boasted a year-to-date return of 30.2%. Quantitative strategies also performed strongly, with Quantedge Global rising 4.3% in September and attaining a year-to-date gain of 49.3%, as well as BlackRock STA climbing 4.4%.
Graham Tactical Trend also exhibited robust performance, increasing by 3.3%. Compared to some of the industry's largest multi-strategy firms, Rokos' 4.2% monthly gain was relatively impressive. Millennium, managing approximately $97bn, remained flat in September and its year-to-date return stood at 8.1%. Point72 gained 0.2% during the month and had a year-to-date return of 10.9%, while Citadel Wellington increased by 1% and Citadel Equities rose 1%, resulting in respective 2026 returns of 13.4% and 24.5%.
Conversely, several prominent hedge funds struggled in September. Brevan Howard's Alpha Strategies and Master funds both declined by 2.2%, while Pharo Macro fell by 1.6%. Verition lost 1.25%, ExodusPoint dropped by 0.7%, and Wolverine decreased by 1.1%. Taula's macro strategy suffered a 4.3% decline through September 18, resulting in a year-to-date loss of 9.4%, while credit-focused Arini experienced a 5.6% decline and was down 13.5% year-to-date.
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