The main hedge fund of Brevan Howard Asset Management, the firm co-founded by Alan Howard, reported an estimated 3.2% loss in February after bets on falling US interest rates backfired, people familiar with the matter said.
The Jersey, Channel Islands-based money manager’s Master Fund had one of its worst months since Howard helped start the firm in 2002, according to data reviewed by Bloomberg News and the people, who asked not to be identified discussing internal matters.