Macro Traders Slump Most in March as War Squeezes Hedge Funds

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Macro hedge funds struggled in March as the war in the Middle East upended inflation expectations, leading to steep losses at many of the industry’s largest firms.Said Haidar’s Jupiter Fund lost about 12% in March, paring quarterly gains to 13.4%, according to an investor letter seen by Bloomberg News.

The Brevan Howard Master Fund declined 6.6% for the worst monthly loss in its two-decade-plus history, people with knowledge of the matter said, asking not to be identified discussing the returns. Diego Megia’s Taula Capital Management lost 8.6%, bringing year to date losses to 7.6%, other people said.