An emerging-markets hedge fund run by Man Group's Numeric Investors has had a stellar start to the year.
The fund is up 7.75% this year through June, according to a person familiar with the returns.
The $1 billion fund, which makes long and short bets on stocks, was up 5.5% in June alone, the person said.
It is also beating eVestment's emerging markets hedge fund index, which gained 4% last month and 5.1% for the year.
The fund is part of Boston-based Numeric Investors, which British hedge fund manager Man Group acquired in 2014. Man Numeric's emerging-markets group managed $2.6 billion as of March 31, according to figures the firm released.
The group launched its first strategy in 2010, and is overseen by Ori Ben-Akiva, head of international strategies at Man Numeric.
Some of Man Group's funds faltered after the UK's vote to leave the EU last month. Man Group's GLG Alpha Select fund lost 3.5% the day after Brexit votes came in, bringing it down 3.8% for the year, The Wall Street Journal reported.
A spokesperson for Man Group at its external PR firm, Prosek Partners, declined to provide updated figures.
Numeric managed about $19.4 billion as of March 31, according to the firm's website. Man Group managed $78.6 billion as of March 31, according to the firm.