Pharo Management
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Pharo Management is a
hedge fund A hedge fund is a Pooling (resource management), pooled investment fund that holds Market liquidity, liquid assets and that makes use of complex trader (finance), trading and risk management techniques to aim to improve investment performance and ...
founded in 2000 by Guillaume Fonkenell."Pharo Management"
/ref> Pharo trades foreign exchange, sovereign credit and interest rate markets in over 70 countries across Asia, Central and Eastern Europe, the Middle East and Africa, Latin America, as well as developed markets"Pharo Macro Fund: Euro Contagion will Spread to Emerging Markets"
23 May 2012. Retrieved on 29 July 2013.
"Tanking currencies are bad news all round"
23 May 2018. Retrieved 29 Sept 2018.
and manages roughly US$13 billion across five funds (Macro + 9.6%, Gaia +15.5%, Man and Africa +7% ) as of Q4 2024 from their offices in
London London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Wester ...
,
New York New York most commonly refers to: * New York (state), a state in the northeastern United States * New York City, the most populous city in the United States, located in the state of New York New York may also refer to: Places United Kingdom * ...
and
Hong Kong Hong Kong)., Legally Hong Kong, China in international treaties and organizations. is a special administrative region of China. With 7.5 million residents in a territory, Hong Kong is the fourth most densely populated region in the wor ...
.McIntosh, Bill
"Pharo Management - Tapping alpha in emerging markets"
27 Nov 2009. Retrieved on 29 July 2013.
Its assets were affected by the
COVID-19 pandemic The COVID-19 pandemic (also known as the coronavirus pandemic and COVID pandemic), caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), began with an disease outbreak, outbreak of COVID-19 in Wuhan, China, in December ...
. Its primary funds, whose assets included debt of Russia and Ukraine, were negatively impacted at the beginning of the
2022 Russian invasion of Ukraine On 24 February 2022, , starting the largest and deadliest war in Europe since World War II, in a major escalation of the Russo-Ukrainian War, conflict between the two countries which began in 2014. The fighting has caused hundreds of thou ...
, before the firm selling its position. The name "Pharo" comes from the word "Φάρος" in
Greek Greek may refer to: Anything of, from, or related to Greece, a country in Southern Europe: *Greeks, an ethnic group *Greek language, a branch of the Indo-European language family **Proto-Greek language, the assumed last common ancestor of all kno ...
which was later adopted by latin languages like French (e.g. Phare in French which denotes a tall building with a beam of light at the top)."First evidence of Faros found in Egypt."
/ref> In early 2019, Guillaume Fonkenell told investors he returned US$300 million that his hedge fund had been managing to Saudi Arabia's central bank, known as the
Saudi Arabian Monetary Authority The Saudi Central Bank (), previously known as the Saudi Arabian Monetary Authority (SAMA; ), established in 1952, is the central bank of the Kingdom of Saudi Arabia. Despite the name change in 2020, the Saudi Central Bank has continued to use t ...
(SAMA). Fonkenell said he was upholding his firms principles in response to the murder of Saudi journalist Jamal Khashoggi, who is thought to have been killed by officials of the Saudi Arabian government. Pharo is the first hedge fund which refused to manage money coming from Saudi Arabia. In 2011, utilising profits from the Pharo Management hedge fund, Guillaume Fonkenell founde
Pharo Foundation
Aligning with Pharo Management’s expertise in developing countries, Pharo Foundation is a mission-driven, impact-oriented organisation that designs, funds, and operates economic development programmes towards a vibrant, productive, and self-reliant Africa. The Foundation does this by focusing on three missions in education, water and productivity, and operating in Somaliland, Ethiopia, Kenya, and Rwanda. Its core mission are: # Education mission: to ensure that all students have an opportunity to access a high-quality and affordable education and become productive citizens in a rapidly changing world. # Water mission: to ensure that people and communities across Africa have access to a safe and affordable source of water. # Productivity mission: to eliminate health, financial, and structural barriers to employment and productivity for working people. These three missions are accomplished through two channels: non-profit operations, which invest in the development of public goods, and for-profit social enterprises, which invest in the private sector and embody our goal of African self-reliance.


References

{{Hedge funds Hedge fund firms in New York City