As long as you help Brevan Howard Asset Management remain the second-largest, specifically by not pulling your money on account of how bad it’s been at running it, that is. And only until it is able to make money again. Merry Christmas.
Facing investor redemptions and faltering performance, Brevan Howard, the London-based firm with a $14.5 billion flagship fund, is telling existing clients that it is waiving its management fee, CNBC has confirmed. Clients still will be charged a 20 percent performance fee. The change will not apply to new investors and will take effect Dec. 1.