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Ex-GLG Manager Shuts Hedge Fund After Struggling to Raise Money

(Bloomberg) Karim Abdel-Motaal is closing his macro hedge fund after just over a year because he couldn’t raise enough money, underscoring how difficult the market has become for startups. The London-based money manager, who previously led emerging-market hedge funds at Man Group Plc’s GLG Partners unit, started the fund in June last year, investing globally with a focus on developing markets. The fund, part of his firm KAM Portfolio Management, returned about 5 percent before fees this year, outperforming peers which suffered losses.

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