Alphadyne’s Hedge Fund Loss Widens to 22% After November Rout
(Bloomberg) -- Hedge fund Alphadyne Asset Management's losses worsened last month, putting the investment firm on course to post its first annual decline ever.
Alphadyne's macro hedge fund tumbled 6.4% in November, extending its decline for the year to 22%, according to a person with knowledge of the matter, who didn't elaborate on what trades contributed to the losses. The fund logged a similar drop in October, when its macro and relative value trades backfired amid volatility in the interest rates market.
A spokesman for the New York-based money manager declined to comment.
The firm's woes underscore the continued pressure on some macro traders as bond markets churn to factor in risks that central banks will boost interest rates faster than expected in response to rising inflation. The unexpected bond-market volatility has battered several hedge funds this year, including Rokos Capital Management and Brevan Howard Asset Management's AS Macro Fund.
Read more: Brevan Howard AS Macro Fund Has Worst Month Ever Amid Bond Chaos
Alphadyne was founded by former JPMorgan Chase & Co. colleagues Philippe Khuong-Huu and Bart Broadman. The Alphadyne International Master Fund hasn't recorded an annual loss since its 2006 debut.
The firm managed $10.2 billion at the start of last month, down from about $12 billion earlier in the year.
©2021 Bloomberg L.P.
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