Brevan leads listed hedgies

BREVAN Howard’s BH Macro fund is the best performer of UK listed hedge funds, adding 15 per cent to its net asset value in the year to date, Numis analysts said yesterday.

Performances across the sector were mixed but still helped insulate investors from stock market turbulence. All but the Dexion Equity Alternative outperformed the FTSE all-share index in the year to date.

Analysts led by Ewan Lovett-Turner said funds had reduced their leverage and stable investor bases so were better placed to withstand a crisis in financial markets than in 2008.