Key Takeaways
- • Brevan Howard Asset Management's flagship Master Fund returned 8.4% in 2019, following a 12.4% gain in 2018, according to a letter to investors seen by Bloomberg.
- • The $2.7 billion Brevan Howard Master Fund posted a 1.5% return in December 2019.
- • The fund recorded its first net inflows in five years in May 2019, with additional inflows in later months.
- • The inflow reversal helped halt a prolonged decline in the fund's assets.
Summary
Brevan Howard Asset Management's flagship hedge fund returned 8.4% in 2019, building on a 12.4% gain in 2018, according to a letter to investors seen by Bloomberg. The 2018 result was the fund's best since the end of the global financial crisis.
The $2.7 billion Brevan Howard Master Fund posted a 1.5% return in December, the letter showed. The performance helped pause a prolonged outflow of assets, as the fund saw its first net inflows in five years in May, with further inflows arriving in subsequent months.
The return and renewed investor demand offer a measure of stabilization for the London-based manager, which has faced sustained redemption pressure in recent years. The fund's ability to attract capital again after a multi-year run of outflows is likely to be closely watched by allocators assessing the firm's franchise.
The $2.7 billion Brevan Howard Master Fund posted a 1.5% return in December, the letter showed. The performance helped pause a prolonged outflow of assets, as the fund saw its first net inflows in five years in May, with further inflows arriving in subsequent months.
The return and renewed investor demand offer a measure of stabilization for the London-based manager, which has faced sustained redemption pressure in recent years. The fund's ability to attract capital again after a multi-year run of outflows is likely to be closely watched by allocators assessing the firm's franchise.
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