Thursday, 21 August 2014
Last updated 1 min ago
Jan 14 2010 | 6:47pm ET
Facing a vote on the future of its flagship listed hedge fund product, Brevan Howard Asset Management can at least tell its investors that the long-term discount that triggered the poll is history.
For the first time since Lehman Brothers went under, BH Macro, which manages US$2 billion, is trading at a premium to its net asset value. The fund had traded at a discount—averaging 8%—for more than a year, despite its strong performance. The fund returned 20.4% in 2008, when the average hedge fund lost double-digits, and 18% last year.
Still, the consistent discount still haunts the fund and firm: Brevan Howard faces a continuation vote for both its euro and U.S. dollar share classes. The firm successfully fended off a similar vote on pound Sterling shares, the result of its trading at a discount of greater than 10% for more than a year.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note