Wednesday, 6 May 2015
Last updated 14 hours 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…