Finance

Macro hedge funds navigate choppy May with positive returns, say sources

Published by Global Banking & Finance Review

Posted on June 10, 2025

1 min read

· Last updated: January 23, 2026

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LONDON (Reuters) -Macro hedge funds returned positive results during a volatile trading month, said sources on Tuesday familiar with their performance. Rokos Capital Management returned a positive

Macro hedge funds navigate choppy May with positive returns, say sources

LONDON (Reuters) -Macro hedge funds returned positive results during a volatile trading month, said sources on Tuesday familiar with their performance.

Rokos Capital Management returned a positive 1.28% for May, taking this year's return to May-end to a positive 9.46%, said a source who declined to be named.

Separately, hedge fund EDL Capital was down 4.5% for May but still up 24% for the year to the end of May, said a separate source.

Brevan Howard's Alpha Strategies returned a positive 0.39% in May culminating in a positive year to May-end return of 4.32%. Its Brevan Howard Master fund was down 0.74% in May and is down 2.12% for the year to May-end, said a third source.

London-based Capula's main fund returned a positive 0.5% for May and is up 3.5% for the year so far to May-end. 

(Reporting by Nell Mackenzie; Editing by Dhara Ranasinghe)

Key Takeaways

  • Macro hedge funds achieved positive returns in May.
  • Rokos Capital Management gained 1.28% in May.
  • EDL Capital was down 4.5% in May but up 24% for the year.
  • Brevan Howard's Alpha Strategies saw a 0.39% increase in May.
  • Capula's main fund rose by 0.5% in May.

Frequently Asked Questions

What was the return for Rokos Capital Management in May?
Rokos Capital Management returned a positive 1.28% for May, bringing its year-to-date return to 9.46%.
How did EDL Capital perform in May?
EDL Capital was down 4.5% for May but still up 24% for the year to the end of May.
What was the performance of Brevan Howard's Alpha Strategies in May?
Brevan Howard's Alpha Strategies returned a positive 0.39% in May, culminating in a positive year-to-date return of 4.32%.
What was the return for Capula's main fund in May?
Capula's main fund returned a positive 0.5% for May and is up 3.5% for the year so far to May-end.

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