Brevan Howard's Master Fund Said to Fall Further in April

The flagship hedge fund at Brevan Howard Asset Management reportedly fell approximately 0.9% in April, bringing its year-to-date losses to -1.8% and extending the hedge fund manager’s string of losses. 

In comparison, the HFRX Macro/CTA Index rose 0.3% in April and was up 0.4% in 2016, according to data from Hedge Fund Research, while HFR’s HFRI Macro (Total) Index dipped 0.34% in April and is up 1.23% YTD.

The Brevan Howard Master Fund, a $17 billion macro vehicle that which invests based on broad economic themes through equities, bonds, currencies and commodities, has faced particularly rough waters since the middle of 2015.

The fund lost money in each of the last two years, sparking an outflow of investor capital that has brought assets down from more than $27 billion in 2014. Investors reportedly redeemed a further $1.4 billion in the first quarter.

The April results were first reported by Bloomberg, which cited two unidentified individuals familiar with the matter.