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Soros-Backed Hedge Fund Beats Peers With 23% Return

  • Glen Point bets on emerging-market debt, currencies paid off
  • Macro fund’s gain for this year compares with a loss in 2016
George Soros

George Soros

Photographer: Jason Alden/Bloomberg

Glen Point Capital, a $2.3 billion hedge fund that invests money for billionaire George Soros and other clients, surged 22.7 percent through September this year, according to a person with knowledge of the matter.

The macro trading firm, started by former BlueBay Asset Management money managers Neil Phillips and Jonathan Fayman, made most of its money by betting on emerging-market debt securities and foreign exchange throughout the year, the person said, asking not to be identified because the information is private. A spokesman for London-based Glen Point declined to comment.