Key Takeaways
- • Brevan Howard Master Fund lost 5.4% in 2017, its worst annual performance since launching in 2003, according to an investor letter.
- • The loss reverses the fund's 3% gain in 2016.
- • The flagship macro fund managed $5.5 billion at the end of November 2017 and was flat in December.
- • Brevan Howard Asset Management, the Jersey-based firm run by billionaire Alan Howard, declined to comment.
Summary
Brevan Howard Asset Management's flagship macro hedge fund lost 5.4 percent in 2017, recording its worst annual performance since it began trading in 2003, according to an investor letter reported by Bloomberg on January 4, 2018.
The Brevan Howard Master Fund, which managed $5.5 billion at the end of November, was flat in December, the letter showed. The full-year loss reverses the fund's 3 percent gain in 2016, marking a sharp reversal for the Jersey-based firm's core strategy.
A spokesman for the firm, which is run by billionaire Alan Howard, declined to comment on the results.
The Brevan Howard Master Fund, which managed $5.5 billion at the end of November, was flat in December, the letter showed. The full-year loss reverses the fund's 3 percent gain in 2016, marking a sharp reversal for the Jersey-based firm's core strategy.
A spokesman for the firm, which is run by billionaire Alan Howard, declined to comment on the results.
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