Hedge fund performance is not all bad.
For all the “John Paulsons” out there that are reporting losses in the high double digits – his Advantage Plus fund was down roughly 48% year-to-date through the end of November – there are other funds that are reporting stellar returns.
Brevan Howard, for instance, is reporting returns of 13% year-to-date through November reports the Financial Times. Given Brevan Howard’s fee structure, the fund is estimated to have generated over $1.5billion in fees this year, based on asset size and performance. The pay out is expected to be Brevan’s largest ever. Alan Howard, who manages the fund, will receive the lion’s share of that.
BlueCrest Capital, the fund ran by former JP Morgan trader Mike Platt, could earn more tha $600 million in fees. Its flagship fund is up over 5 percent this year, through November, and has grown the assets under its management to a whopping $28 billion.