Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.
Sunday, 4 December 2016
Last updated 1 day ago
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.