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Brevan Howard Currency Trader Luke Ding Said to Leave Hedge Fund

Luke Ding, who managed a currency hedge fund at Brevan Howard Asset Management LLP, is leaving the firm, according to a person with knowledge of the matter.

Brevan will speak with investors before deciding whether to shut down Ding’s $570 million Macro FX fund, said the person who asked not to be identified because the information isn’t public. Ding didn’t immediately return a telephone call and e-mail seeking comment.

The currency fund has risen 4.8 percent since it started trading in October 2009, trailing the 19.8 percent gain for hedge funds on average, according to data compiled by Bloomberg and Chicago-based Hedge Fund Research Inc.

The assets in Ding’s hedge fund have fallen in the past 12 months as a July 2012 marketing document obtained by Bloomberg News showed he managed $1 billion at the time. London-based Brevan Howard is Europe’s second-biggest hedge fund firm with $40.1 billion of assets.

Anthony Payne, a spokesman for Brevan Howard, declined to comment on Ding’s departure. His leaving was reported earlier by Financial News.

Other traders have left Brevan Howard this month as part of the firm’s twice-a-year review of their performance, the person said. The firm employs about 80 traders in total.

The Brevan Howard Master fund, the company’s biggest with $27.9 billion of assets, has gained 4.3 percent this year through June 7, the person said. The fund, which seeks to profit from broad economic trends by trading currencies, bonds, interest rates and commodities, has produced an average annual gain of about 12 percent since it started trading in 2003.

To contact the reporter on this story: Jesse Westbrook in 東京 at jwestbrook1@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net

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