Percent Day: Fund and European Union

percent day: The fund was managed by Christian Thum and made a range of bets on the rise and fall of European financial and industrial company share prices, mainly in German-speaking countries, according to Euro News. The fund was up 7.04 percent a day before Britain referendum on membership of the European Union but surrendered those gains after the shock 'leave' result triggered global stock market convulsions and steep falls in the value of listed European financial companies, the source said. MGI CT Invest Fund, which peaked at $100 million in assets at April 2015, joins 200 hedge funds who closed in the first half of 2016, data from industry tracker Preqin showed. The decision to close follows a challenging period for the fund, which delivered returns of below 1 percent last year and a loss of 3.74 percent in its inaugural trading year of 2014. Former Marble Bar Asset Management and BTG Pactual trader, Thum first drew the attention of investors after securing 20 percent gains as a proprietary trader for Mako Group at its offices in London City financial district in 2013. It had $20 million in assets at the time of its closure and was seen as no longer economically viable due to ongoing business costs, the source said. (news.financializer.com). As reported in the news.