Chris Rokos’s Hedge Fund Recovers Most of Its 2017 Losses

Brevan Howard Said Starting New Funds Amid Exodus

Chris Rokos’s hedge fund gained 3.3 percent in September, recovering most of its losses from earlier in the year, according to a person with knowledge of the matter.

The Rokos Global Macro Master Fund had lost 5.1 percent in the first half, but following last month’s rebound was only down 1.2 percent for 2017, the person said, asking not to be identified because the information is private. A spokesman for London-based Rokos Capital Management LLP declined to comment.

Macro hedge funds are making a comeback in 2017 after years of poor performance. They made money in eight of the last nine months and were up an average of 2.8 percent this year through September, Eurekahedge data show. That’s prompting investors to return, with money pools betting on economic trends raising $17.9 billion from January to August, the most of any hedge-fund strategy, according to eVestment.

Rokos, the billionaire co-founder of Brevan Howard Asset Management, who started his own investment firm two years ago, is one of the most watched hedge-fund managers in London.

Last year, his new fund returned about 20 percent to become one of the world’s best-performing macro money pools. He has since expanded his investment team and raised about $2 billion earlier this year to boost firm-wide assets to almost $7 billion.

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