LONDON (Reuters) – London-based hedge fund supervisor Glen Point Capital, which raised money from billionaire George Soros, has opened an administrative center in New York, 3 resources with direct wisdom of the subject mentioned.
Co-founder Jonathan Fayman shall be re-locating to the worldwide macro, rising markets-focused hedge fund company’s new administrative center, the resources mentioned.
Hedge budget, which generally tend to be founded in international monetary facilities corresponding to New York and London, hit their stride this 12 months, producing sturdy features and pushing property to document ranges.
Glen Point will retain its administrative center in the United Kingdom, one of the crucial resources mentioned.
The hedge fund company, which now runs $2.three billion in property, used to be began by way of former BlueBay fund managers Fayman and Neil Phillips.
Fayman and Phillips ran a $1.four billion macro hedge fund at BlueBay, which later close and not had a down 12 months.
Glen Point delivered efficiency features of 17.five % within the 12 months via October concurrently macro hedge budget have averaged features of two.35 %, information from trade tracker Hedge Fund Research (HFR) confirmed.
Macro budget, typically a number of the worst-performing hedge fund methods this 12 months, use plenty of asset categories to guess on macroeconomic occasions.
Emerging markets hedge budget, alternatively, made features of 15.6 % on moderate, whilst the entire trade, throughout all methods, generated efficiency of seven.2 %, in accordance to HFR.
Hedge fund property hit a document $three.253 trillion property in October, in accordance to analysis corporate eVestment.
Reporting by way of Maiya Keidan; modifying by way of Jason Neely