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Komfie Manalo, Opalesque Asia:

After suffering nearly a 4.3% decline through the end of October, Brevan Howard Asset Management announced it would shut down its $630m commodity hedge fund that is managed by Stephane Nicolas, various media reports said.

Bloomberg reported that the $37bn Brevan Howard, one the largest hedge funds in Europe, stated that its commodity fund also fell 10.3% last September as it struggled with its performance this year.

In a separate report, The Journal said it was unclear if Nicolas would be given a new role after the closure of his hedge fund.

Brevan’s flagship Brevan Howard Master Fund, managed by Alan Howard with $26.5bn in assets, is also struggling this year after it was faced with an ultra low inter rate environment. The hedge fund, which has never posted an annual loss, fell 2.7% in the first 24 days of October, returning it to a decline for the year to date.

The fund, which bets on macro-economic trends, had a loss for the first eight months of the year before a 4.4% rebound in September put it into positive territory. Following the declines......................

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