Rokos Capital Management suffered a 4.9% loss in October as a series of market shocks triggered widespread declines across the hedge fund industry, according to a report by Bloomberg.

The decline reduced the London-based macro hedge fund's year-to-date return to approximately 8%, according to people familiar with its performance. Founded by billionaire trader Chris Rokos, the firm manages around $22bn in assets.

The losses came amid a difficult month for global macro managers, as a sharp technology sector selloff coincided with political upheaval in Brazil and violent protests in France, generating significant volatility across financial markets.

Rokos joins several major hedge funds that recorded losses during October, highlighting the challenges facing even established managers as geopolitical developments and abrupt market reversals disrupt trading strategies.