Brevan Howard Emerging Markets Fund Down Double-Digits

Jun 20 2013 | 11:53am ET

Even Brevan Howard Asset Management is not immune to this year's swoon in emerging markets.

The US$40 billion firm, whose flagship has never suffered a losing year, certainly looks set to post one for its Emerging Market Strategies Fund this year. The US$2.7 billion vehicle is down 11.6% through Friday, including a 4.8% loss in the first half of June, Reuters reports.

Emerging-markets equities fell to an 11-month low last week.

The Emerging Markets fund is managed by Geraldine Sundstrom. The firm last week cut the head of its US$570 million currency fund due to poor performance, and is renowned for its risk controls and for its lack of patience with money-losing managers.

Sundstrom's fund has posted annualized returns in excess of 5% since its debut in 2007, and returned 14.1% last year.

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