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Manager propelled up Rich List on 37% monthly gain

Balance - thumbnailBrevan Howard Asset Management boss Alan Howard, already a member of the Rich List, is set to move higher up the rankings after posting a 37 per cent gain last month.

A source tells Bloomberg that billionaire Howard’s AH Master Fund is now up 44 per cent on the year. His own hedge fund makes riskier bets than the wider firm’s investments.

The fund manages his own money as part of a $2.3bn (£1.7bn) mandate. Bloomberg reports it has a management fee of 0.75 percent and a performance fee of 30 percent.

While Howard did not confirm the returns, Howard told Bloomberg: “I am happy that the loyalty and confidence shown by my investors has been rewarded with a very positive result.”

In total, Brevan Howard manages around $8bn in assets, down 75 per cent from its 2013 peak, according to Bloomberg.

The firm declined to comment to the publication on performance or assets.

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