A little known hedge fund is quietly killing it

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.

The fund is part of a Boston-based Numeric Investors, which British hedge fund manager Man Group acquired in 2014. The fund is part of Man Numeric's larger emerging markets strategy, which managed $2.6 billion as of March 31, according to figures the firm released.

The emerging market strategies were launched in 2010, and are overseen by Ori Ben-Akiva, head of international strategies at Man Numeric.

Some of Man Group's funds faltered after the vote 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 at the time.

A spokesperson for Man Group at 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.