Brevan Howard Shutting Down EM Fund After Heavy Losses

Brevan Howard is shutting down its $2.3 billion emerging market fund after losing 15% of its value last year and 1.6% of its value so far this year and fund manager Geraldine Sundstrom will leave the firm, Laurence Fletcher reports for Reuters. Brevan Howard: EM funds faced high volatility in 2013 Emerging market funds had a rough year almost across the board, with uncertainty over Fed tapering driving much of the market uncertainty. “Much of this volatility was influenced by news flow in Developed Markets (for example US Federal Reserve and Bank of Japan announcements), making overall position-taking in Emerging…