Brevan Howard Changing Leadership in Emerging Markets Fixed Income, Waiving Fees

Emerging markets have bedeviled Brevan Howard Asset Management in 2014, and the recent performance and shuffling among portfolio managers about at the Brevan Howard Emerging Markets Fixed Income Fund is no exception. After lackluster performance over the past two years, which was followed by the recent resignation of the Emerging Markets Fixed Income fund’s portfolio manager, the Fund’s risk exposure was recently “substantially reduced” while management fees were waived from November 1, 2014 as a new implementation of the fund’s investment objective and strategy going forward “will be provided shortly,” according to a letter to investors reviewed by ValueWalk. Brevan Howard…