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Brevan Howard Shuts Israel’s Office in Cost-Cutting Drive

(Reuters) British hedge fund firm Brevan Howard Investment Management has shut its office in Israel, according to a U.S. filing, in a move which two sources close to the company said was aimed at cutting costs following poor performance across its funds last year. A March 28 filing to the U.S. Securities and Exchange Commission said London and Jersey-based Brevan Howard, one of the biggest hedge funds in Europe, had recently “ceased operation” in Israel, without giving more details.

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