Billionaire hedge fund manager Alan Howard, who predicted there will be “exceptional opportunities” to make money this year, in February beat peers who were whipsawed by volatile markets, according to two people with knowledge of the matter.
Bloomberg News reports that a gain of 0.5% in February boosted Howard’s $18.6bn Brevan Howard Master Fund’s return to just over 1% for the first two months of the year, said the people, who asked not to be identified because the information is private. A spokesman for Brevan Howard Asset Management declined to comment.
Global macro hedge funds, which bet on economic trends, lost almost 3% in February, according to initial estimates from Lyxor Asset Management. That brought the loss for the first two months to 2.3%.
Howard, who suffered second successive annual declines in his main hedge fund last year, said in January that divergent monetary policies and rising market volatility would "materially improve" money-making opportunities for his firm. The fund lost almost 2% last year and 0.8% in 2014, people familiar with the matter said in January.
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