an Howard Asset Management, one of Europe’s largest alternative asset managers, has recorded a drop in revenues for 2014, it was revealed yesterday.
According to its accounts, the highly-regarded investment specialist recorded total revenue of £123.2m for the year until the end of March, a fall on the £126.7m recorded the previous year.
The company, which manages over £30bn in several hedge funds, also saw its profit before remuneration drop by approximately 10 per cent to £89.8m. Brevan Howard’s primary earner is a £24bn macro fund run by co-founder Alan Howard.
Last year proved to be one of the toughest for hedge fund performance since the onset of the financial crisis in 2008 and macro hedge funds – which bet on major economic trends across a range of asset classes including stocks, bonds and currencies – have particularly suffered.