Fund firm Augustus Asset Managers said that 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 $308.8m in the year to end-October, up from $134.8m.

During the period the fund has returned 13.56 per cent.

Augustus has assets under management of about $12bn in long-only, absolute return and hedge funds.