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Billionaire Hedge Fund Manager Having the Worst Year of His Career

  • Brevan Howard faces at least $1 billion of client withdrawals
  • Firm is experimenting with AI, to start fund services in 2018
Bloomberg business news
Bloomberg’s Jason Kelly reports on how hedge fund Brevan Howard is having a very tough year.(Source: Bloomberg)
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Billionaire Alan Howard may be having the worst year of his career as a hedge-fund manager, but the 54-year-old isn’t ready to throw in the towel.

His firm, Brevan Howard Asset Management, is bracing for at least $1 billion of client withdrawals at the end of the month, as its main fund heads for a record annual loss, according to a person with knowledge of the matter. That caused some investors to wonder if Howard will follow others in the industry by returning capital to clients, said two other people, who asked not to be identified discussing the company’s affairs.