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Benedicte Gravrand, Geneva: London-based Brevan Howard Asset Management will launch on 1st May an India special situations hedge fund called the India Opportunities Master Fund with $75m in AUM. Rommie Bhutani is the portfolio manager. The fund will invest in equities (in private and public companies in diverse sectors), debt and real estate, an industry source told Opalesque.
Mr. Howard started the $21 billion hedge fund management firm with a team of Credit Suisse bankers in 2003. The Brevan Howard group is now one of the largest hedge fund groups in Europe.
Brevan Howard Asset Management's flagship fund, the Brevan Howard Master Fund, which manages nearly $17 billion, was up 17.1% in the year-to-date through February, according to a March 5 letter to investors, Reuters reported.
The master fund trades mainly in currencies, government debt, interest rates and has a core global macro strategy; thus it was not affected by the subprime crisis and generally kept on growing. The fund made 25% last year, our source said.
The firm announced recently it was planning the listing of a second "feeder" fund on the London Stock Exchange after March 2007's listing of BH Macro Ltd, which raised $1 billion and has grown to more than $1.8 billion over the year. BH Macro is up 38% since launch, our source said.
The new multi-strategy fund, BH Global Ltd, is expected to raise some $500 mi...................... To view our full article Click here
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