Reuters – Brevan Howard Asset Management, Europe’s biggest hedge fund firm, made an operating profit of 503 million pounds in the year to July 2008, helped by strong performance from its flagship fund.

According to a regulatory filing the firm, which is headed by Alan Howard, had made a profit of 216 million pounds a year earlier.

Read Complete Article

Tags: asset management europe, brevan-howard-asset-management, hedge fund, operating profit, reuters

Reuters – Societe Generale and Credit Agricole have signed a preliminary agreement to merge their asset management arms and create a top 10 global player, the French banks said on Monday.

The new company will be 70 percent owned by Agricole and 30 percent owned by SocGen.

According to proforma figures from September 30, 2008, the new entity would have 638 billion euros ($826.5 billion) of assets under management. It would have revenues of 1.8 billion euros and an operating profit of 900 million euros.

Read Complete Article

Tags: asset-management, assets-under-management, credit agricole, french banks, global player, management arms, operating profit, preliminary agreement, reuters, socgen, societe generale