Alan Howard to return money to investors from secretive hedge fund
Billionaire Alan Howard is planning to return money to his investors from the secretive hedge fund that is run by him personally.
According to people with detail regarding the matter, Howard is planning to redeem clients in the Brevan Howard AH Master Fund that he began four years ago, so that he can make bigger and riskier bets, reported Bloomberg.
However, the people stated, requesting anonymity as the details are private, that he will continue to manage capital for the firm’s two other money pools. Although, it’s still not clear if Howard is planning on shutting the fund altogether.
The move marks a turnaround for the manager who was in talks just late last year to raise another $500 million in the fund after doubling the investors’ money during the initial days of the pandemic.
The firm has always tried to maintain secrecy regarding every detail of the fund. It’s obscure how much money it runs presently, and removing outside investors means that Howard’s personal track record will stay private.
Howard is one of those macro hedge fund managers who began their own funds to make bolder bets after years of sub-par performance. He and a group of other money managers at Brevan Howard that run their own funds have played a crucial role in changing the path of business through better performance. Just the previous year, the firm had a historic year with one fund gaining 99%.
