Reported about 1 year 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