Brevan Howard Edges Down In Nov.

Dec 27 2010 | 2:18am ET

November was a mixed month for the hedge fund industry, with some indices showing slight increases and others equally slight declines. For Brevan Howard Asset Management, last month brought the latter.

London-based Brevan, Europe's largest hedge fund manager until the consummation of the Man Group-GLG Partners merger earlier this year, saw its flagship drop 0.3% in November, The New York Times reports. The firm blamed the drop on "losses in interest rate trading, mainly in directional strategies."

The US$32 billion firm's BH Macro Limited Fund, a listed vehicle that invests in its flagship Master Fund, is up 1.43% this year.

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