Naphtal’s $4.2 Billion Currency Hedge Fund Returns 15% in 2015
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Warren Naphtal’s $4.2 billion currency fund gained 15.4 percent in the first quarter after wagering on a strong U.S. dollar versus the euro, according to two people with knowledge of the matter.
Naphtal, a former head derivatives trader at Putnam Investments, returned 8.2 percent in March, said the people, who asked not to be named because the information is private.