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VGI Partners, a global equity manager, reported a net loss of $17.6 million for FY25, attributing it to a holding in biotech Opthea. The portfolio lost 3% compared to gains of 17.8% in the previous year. As a result, the board has handed portfolio responsibility to Regal Partners' chief investment officer for global equities, Paul Moore. Marco Anselmi and Henry Hill will continue in their roles.

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