(Reuters) Brevan Howard’s London-listed hedge fund BH Macro Limited said 48 percent of investors took up an offer to exit the fund on Friday, meaning it will avoid a wind-down.
In November, the company offered to buy back all BH Macro Limited shares at a 4 percent discount to the value of the fund’s assets unless over 66.67 percent of investors opted to redeem, which would trigger a wind-down of the portfolio.
British billionaire Alan Howard’s hedge fund Brevan Howard Asset Management, one of Europe’s largest, has struggled with mediocre returns and investors yanking cash over the past years.
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