ExodusPoint Suffers With Government Bond Volatility: Firm Goes On Hiring Spree

Michael Gelband’s multi-strategy global hedge fund, ExodusPoint Capital, lost 2.72% during October, bringing its year-to-date return to 1.62%. According to a copy of the fund’s October update, which ValueWalk has reviewed, the biggest detractor from performance in October was the firm’s Rates strategy. In October, the strategy deducted 2.47% from overall performance, with US-based relative value strategies and front-end trading driving losses. For the year to the end of October, the Rates strategy returned -1.57%. Fixed income volatility The multi-strategy hedge fund was caught off guard last month by volatility in the fixed income markets. The central bank-induced tumult in…