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Alternative Market Briefing

Investors seek $1.4bn redemption from Brevan Howard hedge fund

Wednesday, April 27, 2016

Komfie Manalo, Opalesque Asia:

Stung by poor performance, Brevan Howard Asset Management’s main hedge fund is facing a $1.4bn redemption request from investors, Bloomberg reported citing inside sources. Hedge funds are seeing a rise in redemption requests from investors not seen since the 2008 global financial crisis.

The source said that investors have asked to pull out money from the Brevan Howard Master Fund, which focuses on macroeconomic trends and make investments across asset classes. Investors are seeking to have their money by the end of August, the source added. The Brevan Howard Asset Fund is managing around $17.6bn as of end March, from $27bn in 2013.

With declining profits and high performance fees, investors have been pulling out money from hedge funds. Brevan Howard have reported negative performance the past two years and lost money in the first quarter of this year.

The Brevan Howard Master Fund lost 2% in March, erasing earlier gains this year and ended the first quarter of the year down 0.97%, said the people who asked not to be named because the information is private.

Billionaire investor Alan Howard predicted there will be "exceptional opportunities" to make money this year in a letter s......................

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