Billionaire Chris Rokos’s hedge fund cemented its position as one of the best-performing macro money pools so far this year, with year-to-date gains now reaching about 20%. His hedge fund, which manages more than $17 billion, gained around 6% in April, bolstering the returns, a person familiar with the matter said, asking not to be identified discussing performance.
Rokos Macro Hedge Fund Returns
Source: Investor document and Bloomberg reporting
Note: 2024 returns are through April Rokos’s success comes amid a wild year for macro traders so far this year. Many of them found themselves wrong-footed by a broad recalibration in interest-rate expectations, which led to a selloff in US bonds. Those expecting aggressive reductions by the Federal Reserve were disappointed, while Rokos, who’s known for placing high conviction leveraged bets, profited from the market U-turn.
The first quarter saw a wide range of returns across macro peers. Performance among global macro funds was the most widely dispersed of any strategy during the period, according to data from fund administrator Citco, with results for tracked hedge funds varying between -10% to north of +20%. Rokos, whose net worth is estimated at $1.8 billion by the Bloomberg Billionaires Index, runs one of the biggest macro hedge funds in the world. He co-founded Brevan Howard Asset Management in 2002 before starting his own operation in 2015.