Hedge fund firm Rubicon Fund Management bounced back into the black for its latest financial year, as profits available for distribution among members hit £13.1 million in the year ended March 31, 2014.

The firm - which runs the global macro Rubicon Global Fund, with some $745 million in assets - saw profit rebound from a loss of £286,952 recorded for the previous year, according to accounts recently filed at Companies House. For the year ended March 31, 2012 the firm made a profit of £1 million.