Rokos Capital Management triples redemption period for investors to three years

Chris Rokos, one of the most successful macro traders of his generation, is telling investors they’ll need to wait significantly longer to get their money back. Rokos Capital Management is extending its full redemption period to three years, tripling whatever timeline investors previously operated under. The move comes alongside a decision to cap assets under management at $20 billion and return excess capital to clients. The logic behind longer lockups The fund has been offering investors the option to redeem if they’re unwilling to accept the new terms. So far, no material redemptions have been reported in connection with prior fee and structural adjustments. The firm more than tripled its profits in the latest reported financial year, a result that gives management considerable leverage in negotiations over fund terms. A macro trader’s pedigree Chris Rokos built his reputation long before launching his own shop. As a partner at Brevan Howard, one of the world’s premier macro hedge funds, he generated over $4 billion in profits for investors between 2003 and 2012. He founded Rokos Capital Management in 2015, and the firm has operated out of London with a focus on macro strategies...