(Bloomberg) Cheap money may have buoyed emerging-market macro hedge funds toward their ninth straight annual advance, but that doesn’t mean investors are expecting an exodus as the world’s central bankers start turning off the taps. Demand for these funds remains so brisk, in fact, that some are turning new money away. Pharo Management (UK) closed one of its developing-economy macro pools to new clients after it made 25 percent this year through September.
Emerging-Market Hedge Funds Are Having to Turn New Clients Away
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