There are many things over which hedge fund traders have no control — choppy markets, retail investors plotting against them on Reddit and global pandemics to name but a few.

But it seems that having to deal with the often annoying and demanding outside investors who put money in their funds is one that, if they are rich and successful enough, they can avoid.

The recent decision by Alan Howard, the billionaire co-founder of Brevan Howard, to redeem external investors in the AH hedge fund he personally manages appears to do just that.

The fund has been highly successful. It reaped big gains from bets against Italian bonds in 2018, amid concerns that Italy would loosen ties with the EU and increase its debt pile, and again last year as market volatility soared during the early stages of the coronavirus pandemic.

After the move, Howard will continue to manage money, contributing to Brevan’s main $6.2bn Master fund and its Multi-Strategy…

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