A buy signal from the FT
Brevan Howard, Europe's largest hedge fund manager by assets, is shuttering its $2bn emerging market fund, following poor performance last year as investors began to scale back their exposure to developing economies, writes our Hedge Fund correspondent Miles Johnson.
The decision to close the emerging market fund, which lost about 15 per cent last year amid rising concerns about the impact of tighter US monetary policy on the economies of Brazil, India, and Turkey among others, was made over the weekend, people familiar with the situation said.
