Winton Capital Management has bounced back from its worst month in five years.
The quantitative hedge fund rose 3.46% last month, The New York Times reports. The US$24 billion firm benefited from the U.S. Federal Reserve's decision not to begin cutting back on its bond-buying stimulus program, as well as from short bets on gold and silver. Still, the news was not all good: Winton's gains took a hit towards the end of the month amidst investor worries about the budget standoff that has shut down the U.S. government.
Winton had lost 3.81% in August, its worst month since 2008. The firm suffered its second-ever down year in 2012.