Soros-Backed Fund Glen Point Loses in First Trading Year
The early morning sun rises in London.
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Glen Point Capital, one of last year’s biggest European hedge-fund startups after raising almost $2 billion, lost 4.1 percent in 2016, according to an investor letter.
The macro hedge fund shed 5 percent in November, a month when several peers profited from the market volatility sparked by Donald Trump’s surprise election victory. The London-based fund, which is focused on emerging markets and raised money from investors including George Soros, managed $1.8 billion as of the start of 2017, the letter shows. A spokesman declined to comment.