Saturday, 29 August 2015
Last updated 21 hours 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…