Sunday, 24 May 2015
Last updated 1 day ago
Apr 25 2012 | 1:36pm ET
Playing hard-to-get with its flagship hedge fund is proving a marketing boon for Brevan Howard Asset Management's other offerings.
The London-based firm has told clients that its internal funds of hedge funds are the only way to get money into its US$27 billion Master Fund, which is currently closed to new money. Indeed, just last year Brevan returned US$2 billion from the fund to investors, attempting to keep it at about US$25 billion.
Brevan won't say how much of its Multi-Strategy Master Fund is invested in the flagship—another internal fund of funds puts about half of its assets in the main fund. But that hasn't stopped investors from pouring money in; the fund of fund's assets have soared to more than US$2.3 billion from US$1.1 billion over the last seven months.
That's good news for Brevan's other funds, which are much smaller and much less sought-after than Master.
"It's a way to give money to other funds they're building," an investor told Reuters. "They're saying to institutions that it's the only way to get exposure."
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…