Investors in Brevan Howard Asset Management have asked to pull about $1.4 billion from the firm’s main hedge fund as investors flee the industry at the fastest pace since the financial crisis, Bloomberg News reported yesterday. The Brevan Howard Master Fund, which bets on macroeconomic trends to invest across asset classes, will have to meet the redemption requests by the end of June. The fund managed $17.6 billion at the end of March, down from about $27 billion two years ago, according to a company website. Investors are losing patience with the high-fee managers after years of sub-par returns. Brevan Howard suffered two years of successive declines, followed by losses during the first quarter. Clients of Tudor Investment Corp., another multibillion-dollar hedge fund, have asked to withdraw more than $1 billion from the firm founded by billionaire Paul Tudor Jones after three years of lackluster returns.
