August 17, 2018 / 10:19 AM / 3 months ago

Pharo Management's Gaia fund down 3.8 pct to end-July -source

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)

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