LONDON, Aug 17 (Reuters) - London-based emerging markets hedge fund firm Pharo Management’s$4.1 billion Gaia fund was down 3.8 percent in the year to end-July, a source with knowledge of the matter told Reuters.
Pharo runs $10 billion across four funds that bet on macroeconomic trends in developing countries, according to its website.
The hedge fund slightly underperformed its peers amid a tough year for similar strategies, which lost 3.1 percent over the same time period, data from Hedge Fund Research showed.
Chief Investment Officer Guillaume Fonkenell, a former managing director at Merrill Lynch in New York, founded Pharo in 2000. (Reporting by Maiya Keidan; editing by Simon Jessop)