Jul
03
Naphtal’s $4.4 Billion Currency Hedge Fund Gained 10% on Brexit
By-
Winning wager against euro reduced losses this year to 5.9%
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Hedge fund joins others making winning wagers on U.K. vote
P/E Investments’s $4.4 billion currency hedge fund, co-founded by Warren Naphtal, gained about 10 percent on Britain’s decision to leave the European Union, mostly from betting against the euro, according to a person with knowledge of the matter.
The quantitative fund was up 6.4 percent last Friday after the June 23 vote, and 3.7 percent Monday, said the person, who asked not to be named because the information is private. The gains curbed losses this year to about 5.9 percent through June 27, according to a factsheet obtained by Bloomberg News.
Christin Luttrell, a spokeswoman for the fund, declined to comment on returns…
Naphtal’s $4.4 Billion Currency Hedge Fund Gained 10% on Brexit
