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The U.K. Labour Party is consulting a hedge fund that is betting against Britain's currency and says the economy may need an International Monetary Fund bailout. BlueBay Asset Management LLP, which manages $57 billion of assets and is among investors that are speaking to the opposition party, is planning to meet its self-styled radical finance chief, John McDonnell, next week, according to people familiar with the matter.BlueBay first began talking to Labour officials late in 2016, according to one of the people.BlueBay then requested a meeting with McDonnell soon after the June 2017 election.BlueBay's Labour point man is portfolio manager Mark Bathgate, 43 . Bathgate, whose job at BlueBay includes meeting politicians and regulators, correctly predicted the surprise outcome of the U.K. general election on June 8, according to a report by the Legatum Institute think tank last month.
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