Listed Brevan Howard Fund Survives Shareholder Vote

Oct 16 2009 | 1:15pm ET

Investors opted to keep Brevan Howard Asset Management’s listed hedge fund vehicle going despite a difficult year for the fund.

More than 95% of BH Global shareholders voted to keep the fund going. Yesterday’s vote was triggered by the fund’s discount to net asset value, which was more than 10% for over a year.

In fact, the discount was much worse than that at times: Its pound Sterling asset class traded at a 34% discount to NAV in December, averaging 13% for the last year. And the discount, which now stands at 8.9%, was resilient: Brevan Howard’s bid to reduce it through share buybacks failed to do the trick.

The $998 million fund is the third-largest listed fund on the London Stock Exchange.


In Depth

Q&A: High Conviction, Low Correlation

Oct 30 2014 | 7:35am ET

Acadian Asset Management's numbers are big: over $70 billion in assets under management...

Lifestyle

Ex-Hedgie Steyer Gives $56M To Climate Action Super PAC

Oct 28 2014 | 9:23am ET

Retired Farallon Capital founder Tom Steyer has poured almost $56 million into his...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Demeter: Family affair

David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.