Brevan Howard Posts Positive Gains in September 2014
One 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
