Reported 12 months ago
Brevan Howard Asset Management has reduced fees for its largest fund, Alpha Strategies, in response to high technology, infrastructure, and talent expenses. The firm is waiving the 1% management fee until the new year and plans to increase it to 0.5% in January, with expectations of decreasing expenses by then. The move comes after Brevan dismissed around 100 employees and faced challenges in attracting talent, resulting in rising fees. Alpha Strategies, valued at $12.2 billion, recorded a 3.6% loss by May this year, while the Brevan Master fund, valued at $11.9 billion, saw a 2.1% decline last year.
Source: YAHOO