Brevan Howard Asset Management, the hedge-fund firm that oversees $37bn, is shutting its commodity hedge fund run by Stephane Nicolas after losses this year, according to two people with knowledge of the matter.
Bloomberg News reports that the fund, which had about $630m in assets under management, has fallen about 4.3% through the end of October, said one of the people, who asked not to be identified because the information is private.
The commodity fund had slumped 10.3% in September before making back some of the losses. An official for Brevan Howard declined to comment on the fund’s closure, which was reported by the Wall Street Journal.
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