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Alternative Market Briefing

Opalesque Roundup: Macro hedge funds dominate January returns as volatility drives performance

Monday, February 09, 2026

Macro hedge funds captured exceptional returns during January's volatile market conditions, extending the strong performance momentum that defined 2025. Haidar Capital posted a remarkable 19 percent gain for the month, capitalizing on sharp movements across rates, foreign exchange and commodities markets. The performance underscores how experienced macro managers have thrived amid central bank uncertainty and heightened geopolitical risk.

Broader industry data confirms macro strategies led hedge fund returns as markets experienced significant volatility. Discovery Capital Management, led by Tiger Cub Robert Citrone, delivered its strongest monthly performance since November 2024, benefiting from well-positioned trades across rates and currencies. Singapore-based Dymon Asia Capital and systematic fund Pinpoint Asset Management both posted their best monthly returns since 2020, reflecting the favorable environment for diversified global macro approaches.

Multi-strategy platforms including Citadel and Schonfeld Strategic Advisors also started 2026 with strong January gains, driven by equity trading, fixed income strategies and improved market volatility. The performance builds on what industry observers described as the strongest annual returns for hedge funds since the 2009 financial crisis, with macro strategies leading the industry to exce......................

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