Augustus macro hedge fund doubles assets

Fund firm Augustus Asset Managers said on Tuesday assets under management in its fixed income and currency macro hedge fund have bucked market trends and doubled in the year to end-October.

Augustus, formed from the management buyout of Julius Baer Investments, said assets at the JB Global Rates Hedge Fund have grown to $308.8 million (208 million pounds) in the year to end-October, up from $134.8 million.

During the period the fund, which takes directional bets in fixed income and currency, has returned 13.56 percent.