Advertisement
Singapore markets close in 5 hours 45 minutes

  • Straits Times Index

    3,276.39
    -11.36 (-0.35%)
     

  • Nikkei

    37,780.35
    +151.87 (+0.40%)
     

  • Hang Seng

    17,581.67
    +297.13 (+1.72%)
     

  • FTSE 100

    8,078.86
    +38.48 (+0.48%)
     

  • Bitcoin USD

    64,418.70
    +251.84 (+0.39%)
     

  • CMC Crypto 200

    1,392.71
    +10.13 (+0.73%)
     

  • S&P 500

    5,048.42
    -23.21 (-0.46%)
     

  • Dow

    38,085.80
    -375.12 (-0.98%)
     

  • Nasdaq

    15,611.76
    -100.99 (-0.64%)
     

  • Gold

    2,346.60
    +4.10 (+0.18%)
     

  • Crude Oil

    83.85
    +0.28 (+0.34%)
     

  • 10-Yr Bond

    4.7060
    +0.0540 (+1.16%)
     

  • FTSE Bursa Malaysia

    1,573.29
    +4.04 (+0.26%)
     

  • Jakarta Composite Index

    7,116.63
    -38.67 (-0.54%)
     

  • PSE Index

    6,552.24
    -22.64 (-0.34%)
     

Brevan Howard hedge fund axes management fees for some current investors

Reuters

LONDON (Reuters) - Hedge fund firm Brevan Howard, one of Europe's largest, will cut its main Master fund and its Multi-Strategy fund's management fees to zero for some current investors, a source close to the matter told Reuters.

The $14.5 billion main fund, which has suffered back-to-back annual losses, joins a string of other hedge funds in lowering fees as they battle to woo investors.

Brevan will cut fees from Dec. 1 but will still charge a 20 percent performance fee.

Multi-manager hedge fund Caxton told investors this month that it was cutting fees after Och-Ziff Capital Management (OZM.N) and Tudor Investment Corp made similar moves.

(Reporting by Maiya Keidan; Editing by David Goodman)