Brevan Howard Asset Management’s two biggest hedge funds posted double-digit returns last year, joining peers making the most out of soaring interest rates.
The $10 billion Brevan Howard Master fund gained 20%, while the $12 billion Alpha Strategies fund recorded its best ever year with a 28% surge, according to people with knowledge of the matter, who asked not to be identified because the details are private.
A spokesman for the Jersey, Channel Islands-based investment firm declined to comment.
The returns puts Brevan Howard on its strongest footing in years as Chief Executive Officer Aron Landy executes his business plans after taking over the role from co-founder Alan Howard in 2019. Assets have risen to $30 billion, or about five times the lows seen in late 2018 and the firm has grown to more than 700 employees.
Both the funds are managed by groups of traders specializing in different strategies from rates, currencies, credit to commodities. Nearly all the gains in the flagship Master fund were thanks to interest rate trading, according to an investor document.
The firm joins other macro trading peers such as firms run by Said Haidar, Crispin Odey and Michael Platt, whose bets on the economy in a year of volatility helped them make money.
This article was provided by Bloomberg News.