Hedge fund Brevan Howard cuts risk limits amid performance decline - Bloomberg

Investing.com -- Brevan Howard Asset Management, a macro hedge fund specialist, is reducing the risk limits for its traders in the wake of a performance slump that has eliminated the gains achieved last year. The firm’s CEO, Aron Landy, has implemented these defensive measures in response to rising volatility and market instability, according to a report from Bloomberg, citing sources who wish to remain anonymous.

The company’s flagship Master Fund, valued at $11.7 billion, experienced a 1% loss in the first week of March, increasing the year’s total loss to 5.4%. This information was revealed in an investor letter seen by Bloomberg News. In contrast, the fund saw a 5.1% gain last year. The firm’s other large fund, Alpha Strategies, decreased by 0.8% during the same week, reducing its 2025 gains to 1.5%, as indicated in another letter.

The Jersey, Channel Islands-based firm, which manages $35 billion and was co-founded by billionaire Alan Howard, is known for its positions on interest rates and currencies. It is one of several firms struggling with the geopolitical upheaval and asset volatility following the election of US President Donald Trump in November.

The market volatility has also affected other firms, including Citadel, Millennium Management, and DE Shaw & Co., as reported by Bloomberg News.

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