Glen Point Capital, one of last year’s biggest European hedge-fund startups after raising almost $2 billion, lost 4.1 percent in 2016, according to an investor letter. The macro hedge fund shed 5 percent in November, a month when several peers profited from the market volatility sparked by Donald Trump’s surprise election victory. The London-based fund, which is focused on emerging markets and raised money from investors including George Soros, managed $1.8 billion as of the start of...