According to Bloomberg sources say that investors in Brevan Howard Asset Management’s primary hedge fund are asking to withdraw about $1.4M from the fund in the wake of successive yearly declines and losses from the first quarter.The fund is the Brevan Howard Master Fund, which invests in different asset classes.
As of the end of March the fund managed $17.6M, which is an approximately a $27B decline from two years ago. Brevan Howard has until the end of June to meet investors’ redemption requests.
Its investors aren’t the only ones seeking their money back. According to Hedge Fund Research Inc., many other investors were not happy with the way a number of hedge funds have performed recently when there was trouble in the markets. Last quarter, investors pulled more money from the funds than they have since the end of the financial crisis.
Recently, reports New York City’s pension for its civil employees voted to take out $1.5B from hedge funds. The New York City Employees Retirement System took its investment out of a number of hedge funds due to unsatisfactory performances. Meantime, Tudor Investment Corp.’s clients asked to take out over $1.B from the firm in the wake of unimpressive results over the last three years.
Also, in a letter to investors, Aurora Investment Management firm said it will give back $5.4B to clients. The decision comes after a deal didn’t go through in which 50 South Capital Advisors was supposed to buy the hedge fund investor.
In March, Hedgeweek.com reports, investors took out a net of $15.94B from funds that suffered losses in 2015. This raised 2015’s year-to-date redemptions to $43.35B.
Brevan Howard Said to Get $1.4 Billion Redemption Requests, Bloomberg, April 26, 2016