Hedge fund Caxton Associates has made gains of about $270mn this month, as bets on US government debt and the Japanese yen made it one of the big winners from the recent turmoil in global markets.
The London-based firm made 3.9 per cent in its $4.5bn Macro fund, which is personally managed by chief executive Andrew Law, in the first nine days of August, according to numbers sent to investors and seen by the Financial Times. It also made a gain of 1.1 per cent in its $8.5bn Global fund, according to an investor.
The profits come in a turbulent month for global markets, driven by fears that the US Federal Reserve has been too slow to cut interest rates in response to signs of a slowing economy.
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