Saturday, 25 June 2016
Last updated 10 hours ago
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.