(Reuters) – EDL Capital, the macro hedge fund firm started by Edouard de Langlade, has applied to cancel authorization for its London headquarters, filings with the British regulator showed.
A spokesman for EDL confirmed the firm was relocating from the UK and said it planned to shift its headquarters to Switzerland.
So-called macro hedge funds bet on macroeconomic events and trends using currencies, bonds, rates and stock futures.
De Langlade, a former Moore Capital trader, launched the firm in September 2015.
The $779 million (£599.2 million) EDL Global Opportunities Fund was up 3 percent in the year to Oct. 5 after gains of 6 percent in 2017, according to data compiled by HSBC.
That compared to the average macro hedge fund, which was down 1.8 percent in the year to end-September after returns of 2.2 percent in 2017, data from industry tracker hedge fund research showed.
(Reporting by Maiya Keidan in London and Philip George in Bengaluru; Editing by James Dalgleish)