Brevan Howard Posts Positive Gains in September 2014One of the largest hedge fund managers by assets under management Brevan Howard has seen its $25 billion Master Fund rise by 4.4 percent in September, a letter to investors obtained by Reuters showed.
The gain, the highest monthly return by the fund in three years, beats the average 1.5 percent gain posted by peers last month and marks a recovery in the strategy's performance after a tough first half of the year.
It also helped Brevan Howard recover all the losses suffered by the fund in the opening six months of the year and left it trading up 0.4 percent at the end of September, the letter, which did not explain how the returns were generated, showed.
Macro hedge funds focus on major economic trends and bet anywhere they see value, including stocks, bonds, currencies, commodities and derivatives markets. The strategy outperformed a 0.8 percent loss for the broader hedge funds industry in September, according to data from money manager GAM.Source: Reuters UK