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Taula Capital’s TSO fund loses more than 12% in September

The TSO fund, which raised about $1.5 billion in March with a lock-up until next spring, is down 12.8% since launch over roughly six months through end of September.

Reported · Written up by our desk · Hedge Funds

Taula Capital’s newly launched TSO hedge fund has reversed sharply after a bet that European interest rates would fall was hit by a broader sell-off in global bonds, according to a Business Insider report carried by Hedgeweek.

The strategy fell more than 12% in September, with the fund down 12.2% over the month, while overall performance through the end of September showed a 12.8% decline since the fund’s launch about six months earlier.

Hedgeweek, citing Business Insider, said Taula Capital raised approximately $1.5 billion for the TSO fund in March, and investors were subject to a lock-up until next spring; the firm declined to comment.

The report attributes the pressure on the fund to a rise in borrowing costs as inflation remained persistent and markets revised expectations for monetary policy, alongside factors including the ongoing conflict involving Iran and additional fixed income supply tied to higher AI-related borrowing.

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