Jun 24

Will Brexit Create Market Trends, Impact Hedge Fund Performance?

Some noncorrelated funds took a more pragmatic approach to the Brexit. James Koutoulas, leader of the $80 million Typhon Capital Management, instructed his six portfolio managers “take most risk off ahead of the vote precisely to not try and be a hero ahead from a coin flip vote,” he told ValueWalk, calling it “the responsible thing to do.” He said the medium sized sell off in the stock market was appropriate due to uncertainty combined with valuation issues. “Brexit is mostly a good thing that will force some much needed reform of the EU.”