If you want to work for an organisation unrivalled for its excellence, unsurpassed for its generosity and able to make very good money even in recent market conditions, Brevan Howard is looking like it.
While Goldman Sachs is being lambasted for the loss of its “magic touch” and John Paulson’s investments aren’t doing well, Brevan Howard appears to be performing impeccably.
According to Market Folly, Brevan Howard’s flagship fund returned 12.98% in the year to September 23rd. This is all the more impressive given other hedge funds are having an difficult year and that most are losing money. According to Market Folly, the closest rival to Brevan between January and September was Paul Tudor Jones’ BVI Global Fund, which was up 5.5%.
Unsurprisingly, Brevan Howard pays well. In the year ending March 31st, its 45 partners, most of whom are based in London, earned an average of 15m each. In March this year, Brevan Howard said it was open to applications for prop traders and that it hoped it was the, “employer of choice,” for macro traders.
As we’ve noted before, Brevan Howard can be a challenging place to work. Staff turnover is high, especially in the first two years and traders who don’t make money are quickly eliminated. This, however, is starting to simply look like the corollary of working for an organization at the top of the market.
SG

“According to Market Folly, the closest rival to Brevan between January and September was Paul Tudor Jones’ BVI Global Fund, which was up 5.5%.”
Erm…
DE Shaw Oculus?
BlueBay Macro?