(Bloomberg) -- Geraldine Sundstrom is leaving Brevan Howard Capital Management LP and the firm is shutting her hedge fund after it lost money amid a rout in emerging markets, according to a person with direct knowledge of the decision.
Sundstrom’s Brevan Howard Emerging Markets Strategies Master Fund declined 15 percent last year after a sell off for bonds and currencies, said the person, who asked not to be identified because thefund is private. Her fund, which had $2.7 billion in assets as of last June, fell another 1.6 percent in January after investor concerns that emerging markets would continue to decline, the person said.
The devaluation of the Argentine peso accelerated the worst selloff in emerging-market stocks in five years last month. Sundstrom, 39, is among managers who’ve been hurt by the market turmoil, which has been exacerbated by concerns that the U.S. Federal Reserve would continue reducing its monthly bond buying.
Sundstrom, who is based in Geneva, didn’t immediately return a phone call seeking comment on her departure. London- based Brevan Howard officials declined to comment.