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Macro hedge funds are enjoying their best year since at least 2008, as huge swings in the price of currencies, commodities and bonds have provided fertile conditions for traders. An index from data provider HFR tracking the returns of such funds was up 16% at the end of November, putting the sector on course for its most profitable year in data stretching back to 2008. Hedge funds such as Andrew Law's Caxton and Chris Rokos's RCM have enjoyed returns which were well into the double digits this year.

The resurgence of macro investing comes at an opportune time for the strategy. Heightened volatility across asset classes, divergent central bank policies, and geopolitical tensions have created an environment rich with trading opportunities. Currency swings, commodity price dislocations, and bond market movements have all contributed to the strong performance figures seen throughout 2025.

Several of the industry's largest platforms made significant strategic announcements during the short week, signaling their positioning for 2026 and beyond.

Citadel is planning a profit distribution of around USD 5 billion to partners and employees as it looks to reduce assets ahead of 2026. The move follows another strong performance year and reflects founder Ken Griffin's preference for disciplined growth. Asset trimming is also seen as a way to preserve returns in more volatile markets. However, the week was not without challenges for the firm, as Citadel suffered its weakest performance in years after natural gas trades moved sharply against positions, highlighting the risks of crowded commodity trades during periods of rapid price reversals.

Point72 is backing a former top portfolio manager with its largest internal capital allocation to date. The move reflects intense competition for proven talent and confidence in the trader's ability to scale independently. M......................

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