The Rokos Macro Fund has joined a growing group of macro funds to have registered big gains 2022, recovering from its worst ever performance (-26%) in 2021 to record a record gain of 51% last year, according to a report by Reuters.

The report cites unnamed sources as revealing that the $15.5 billion fund's gain was its best since founder Chris Rokos started his eponymous firm in 2015. The find produced positive returns in every month bar one in 2022.

Like macro peers including Crispin Odey and Said Haidar, Rokos benefited from winning short bets on bonds as central banks hiked interest rates to tackle soaring inflation.  r

Part of Rokos' losses in 2021 stemmed from wagers that the interest rate difference in yields in US and UK government bonds would widen when they actually tightened.