Wednesday, 25 November 2015
Last updated 1 hour 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…