Covepoint’s Ko Reaps 22% as Emerging Currencies Converge to G-10

Melissa Ko says the blurring line between emerging markets and developed countries offers opportunities for foreign-exchange investors.

The founder of hedge fund Covepoint Capital Advisors LLC should know. Ko, who oversees the firm’s $785 million flagship Covepoint Emerging Markets Macro Fund with a team of three co- managers, has racked up gains of 22 percent a year on average from its inception in 2005 through September. She started the fund at Bear Stearns Asset Management, and after Bear Stearns Cos. was bought by JPMorgan Chase & Co. in 2008, the bank spun the fund out to Covepoint.