Brevan restructures Ucits as fund proves a hard sell

Brevan Howard Asset Management has decided to restructure its Absolute Return Bond Plus Fund, a Ucits III-compliant investment, because it failed to attract enough investor interest. The move serves as a warning to the hedge fund industry that attracting European institutional investment might not be as easy as first thought.

The fund was originally seeded with $250 million from Brevan Howard Master Fund but, as of January 29, only had assets under management of $286.76 million. In contrast, Bre

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