Former Goldman Sachs Group Inc. trader Leland Lim’s macro hedge fund lost 5.1 percent in 2016, even after recovering from steep declines early in the year, according to people with knowledge of the matter. Assets overseen by Lim’s Hong Kong-based Guard Capital Management declined to $963 million from about $1.1 billion at the beginning of the year, said the people, who asked not to be identified because the information hasn’t been publicly disclosed.