Brevan Howard’s $20 billion flagship fund is down for a second year in a row in a further blemish to the trading record of one of the largest hedge funds in Europe.
While Brevan Howard’s 0.8 per cent loss for 2015 is small compared with some of its rivals, it inflicts a symbolic wound to a hedge fund that until 2014 had proudly defended its history of having never lost money in a calendar year for its clients.
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The loss comes as some of the world’s highest profile hedge fund managers have suffered brutal losses over the past 12 months and several large funds have chosen to close down altogether.
Read the full article by FT, by Miles Johnson
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