Brevan Howard Takes Top Honors in Europe

The reports of Hedgistan's demise might be a bit premature. To be sure, July was a tough, but the big are getting bigger as funds continue to flow their way. Raising money is tough, but not impossible as Brevan Howard's success illustrates. Their 73% increase in assets, in the year ended June 30th, led the way in Europe:

The London based manager's 73% increase in assets in the 12 months to June 30th was the highest proportional growth among Europe's biggest hedge fund managers. The $2.5 billion of new client money taken in by its flagship multi-strategy fund in the first half of this year was equal to about 25% of all the money raised by European start-ups in the period.

The value of BH Macro's portfolio ended last year up 20.3% before adding a further 15.1% this year to June 30th. Wealth Bulletin

Brevan Howard grew assets through a public offering, but is also a favorite of institutional clients who prefer to go with an established entity rather than bet on an emerging manager, who are finding that the prospects of raising capital are tough, good numbers or not.

One fund of funds manager said many traditional investors in hedge funds bad been holding much of their assets as cash in the past year, and investing in established hedge fund manager’s products rather than in novices.

“You have seen more concentration of investments in larger established houses, and they have been the ones launching big funds, because they have readily available money”

Putting decent numbers on the board is no guarantee you will be able to raise money in London; the big are getting bigger as the FOF lemmings follow each other into hedge fund complexes deemed to be safe.

Which they will be, until they blow up.

TOP TEN

1) Brevan Howard
AUM $26.3 bn

2) Man AHL
AUM $25.3bn

3) GLG Partners
AUM $23.7 bn

4) Barclays Global Investors
AUM $21bn

5) Lansdowne Partners
AUM $16.8 bn

6) Winton Capital Management
AUM $15.9 bn

7) Sloane Robinson
AUM $15.1 bn

8) BlueCrest Capital Managment
AUM $13.6 bn

9) Marshal Wace
AUM $13.4 bn

10) The Children’s Investment Fund
AUM $13 bn

Europe’s Top Managers See Their Assets Balloon
Wealth-Bulletin

Comments:

<< Back to main