Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Brevan Howard profits dive but partners still share £100 million

Brevan Howard profits dive but partners still share £100 million

A tough year for Brevan Howard has left revenues down by two-thirds and profit by more than half, but its partners still took home over £100 million.

In the year to 31 March 2013, according to Brevan Howard Asset Management’s annual report, revenue slipped to £125.7 million from £371.9 million from the previous year. Profit after operating expenses similarly fell from £77.2 million to £33.6 million.

During the year £101.2 million was nevertheless distributed to Brevan Howard’s 46 partners, although this was far below the £344 million shared the prior year. The highest paid partner, who was not named, received £39.4 million; the equivalent figure for 2012 was £78.9 million.

In total, net current assets attributable to members at the hedge fund’s UK arm have thus declined from £65.4 million to £31.3 million.

A spokesperson for the firm told Wealth Manager that Brevan Howard could still boast an enviable long-term record, though. ‘Brevan Howard has never had a down year,’ he said. ‘Charitable donations are also up fivefold for the period, and Brevan Howard also made a £20.1 million donation this year to Imperial.’

Over the past year the group’s £933 million BH Macro fund has returned 5.1% compared with an average of 8.9% from its peer group, while the £423 million BH Global fund has generated 3.2%.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Boutique tapes: my business will never be sold

Boutique tapes: my business will never be sold

In the final part of our four part series we discuss consolidation and whether it's getting tougher for boutiques to survive.

Play Boutique tapes: are top managers better off at small firms?

Boutique tapes: are top managers better off at small firms?

In episode three of our series, boutique bosses discuss whether the best fund managers are more likely to thrive at smaller firms.

Play Boutique tapes: if you want a Ferrari, you have to pay for it

Boutique tapes: if you want a Ferrari, you have to pay for it

In the second part of our four-part series, boutique bosses are asked how they can justify the fees charged by active managers.

Read More
Your Business: Cover Star Club

Profile: how this boutique beat the big guns of wealth

Profile: how this boutique beat the big guns of wealth

This small west country offshoot of a local IFA scooped a 2018 Citywire award from beneath the noses of the national challengers

Wealth Manager on Twitter