Finance
Brevan’s Main Hedge Fund Swings to Profit in Two Days of Turmoil
- Firm’s Master Fund up 1.1% this year after August’s 2.3% gain
- Brevan Howard was hit earlier by wrong bets on interest rates
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This month’s market turmoil has helped Brevan Howard Asset Management’s flagship hedge fund swing to a profit for the year after reversing earlier losses.
The $12 billion Brevan Howard Master Fund made an estimated 2.3% gain in the first two trading days of August, wiping out a drop in the seven months to July. It advanced 1.1% this year through Aug. 2, according to an investor letter seen by Bloomberg News.